In one of the most significant acquisitions in the food industry, Italian food giant Ferrero has acquired American cereal giant Kellogg's for $3.1 billion (£2.3 billion), making popular food brands such as Kellogg's Frosted Flakes, Rice Krispies, Froot Loops, Kashi, Special K, Kellogg's Raisin Bran, and Bear Naked now part of the Italian company, diversifying its brands globally.
