The Italian candy company Ferrero plans to buy the American cereal maker Kellogg for $3.1 billion, the companies announced Thursday. The deal would unite the makers of household brands including Nutella and Frosted Flakes. American cereal giant Kellogg and Italian candy giant Ferrero have struck a sweet deal worth $3.1 billion.

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

Italian candy maker Ferrero has agreed to acquire American cereal giant WK Kellogg in a deal valued at $3.1 billion, the companies announced Thursday. The transaction includes the manufacturing, marketing and distribution of Kellogg's portfolio of breakfast cereals across the United States,