Ferrero previously bought Nestlé’s US candy biz for $2.8 billion, as well as chocolate-maker Fannie May and RedHots owner Ferrara.

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

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.