The Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.

Kellogg’s, famous for making Frosted Flakes and Froot Loops, has struck a deal to be being for $3.1 billion by the Ferrero Group, which owns Nutella and Kinder.

Vassallo is disappointed in the potential sale, telling News Channel 3 that WK Kellogg is a longtime staple in town, and is what the "cereal city" was built off of. "I remember the stories of the original Mr. Kellogg, of how community oriented he was in supporting the schools, the churches, the community," Vassallo said.

Nutella maker Ferrero Group is buying cereal giant WK Kellogg Co in a $3.1 billion deal.

Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying the century-old U.S. cereal company WK Kellogg in a deal valued at approximately $3.1 billion.

An Italian candy company is looking to buy the breakfast cereal maker WK Kellogg in a business deal that would cost roughly $3 billion. Ferrero Group, which makes the little hazelnut candies Ferrero Rocher,