WK Kellogg Co., which once cemented Battle Creek, Michigan’s reputation as “Cereal City,” has officially been sold. Shareholders approved the sale to Ferrero Group, transferring the iconic cereal maker to foreign ownership.

WK Kellogg, the iconic cereal manufacturer, has announced a $3 billion sale to Ferrero, expected to finalize before year’s end. The companies shared the news on Thursday, signaling a significant development in the food industry.