Jim Cramer Calls Kellogg’s and Ferrero’s Deal “Amazing”

WK Kellogg Co (NYSE:KLG) is one of the stocks on Jim Cramer’s radar. Cramer discussed the recent acquisition of the company by Ferrero, as he commented:

“Here’s what’s amazing, though, people now think these brands have no value, but you know what? That’s what they said about WK Kellogg. The cereal business, when it split with Kellanova, the fast-growing part of the Kellogg family, which of course got a bid until the serial acquirer couldn’t, couldn’t resist… Serial acquirer Ferrero stepped up and paid $3.1 billion for the maker of Fruit Loops and Cornflakes.

That was some deal last week. It was amazing. Sure, it’s supposed to be a nightmare in a world where the Health and Human Services Secretary, RFK Junior’s on a crusade against food coloring, but it was a dream come true for Ferrero, which just spent $13 billion in 10 years to expand around the globe. They don’t want to be just a small Italian company.”

A stack of grocery bags filled with ready-to-eat cereals, frozen waffles, and savory snacks.

Kellogg (NYSE:KLG) manufactures and markets ready-to-eat cereals under established brand names. The company distributes its products through various retail and online channels.

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Disclosure: None. This article is originally published at Insider Monkey.