WK Kellogg, the Battle Creek-based maker of cereals, agreed to the sale as the company has struggled with weakening consumer demand due to inflation.

Ferrero, the maker of Nutella, announces a $3.1 billion deal to acquire century-old cereal company WK Kellogg, expanding its North American breakfast and snack portfolio.

The $3.1 billion acquisition would combine Ferrero, which makes Tic Tacs and Nutella, with the producer of Frosted Flakes and Froot Loops.