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

Italian candy maker Ferrero has agreed to purchase U.S. cereal company WK Kellogg Co. in a $3.1 billion transaction, according to reports.

Italy's Ferrero has continued its U.S. spending spree with its proposed acquisition of famous cereal maker WK Kellogg amid wider food manufacturer consolidation.

WK Kellogg Co’s headquarters is in Battle Creek. After the transaction closes, Battle Creek will remain a core location for the company and will be Ferrero’s headquarters for North America cereal, a news release from WK Kellogg states.

A two-vehicle crash claimed the life of a Battle Creek man in Marshall Township early Thursday morning. At around 6:20 a.m., the Calhoun County Sheriff's Office (CCSO) responded to a motor vehicle crash at the intersection of Verona Road and H Drive in Marshall Township.

The deal, which still needs approval from WK Kellogg Co.’s shareholders, is expected to close in the second half of the year.

Kellogg, the maker of such brands as Frosted Flakes, Froot Loops, Rice Krispies and Raisin Bran, began business in 1906 as the Battle Creek Toasted Corn Flake Co., before becoming Kellogg Toasted Corn Flake Co. in 1909.

BATTLE CREEK, Mich. — WK Kellogg was purchased by Italian candy manufacturer, Ferrero, on Thursday. Ferrero purchased the food distributor for $3.1 billion.