Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying U.S. cereal company WK Kellogg in a deal valued at approximately $3.1 billion.

WK Kellogg is Ferrero’s most substantial acquisition so far, with a market cap of roughly $1.5 billion and a portfolio of household-name cereals including Raisin Bran, Corn Flakes and Apple Jacks. Ferrero also bought Nestlé’s US business and Blue Bunny ice cream in recent years.

The creator of a number of breakfast-table staples is getting a new owner as Ferrero Group and WK Kellogg Co. have announced a deal that will see Kellogg folded into the corporate parent of such brands as Nutella, Tic Tac, Butterfinger, Baby Ruth, Famous Amos, and Bomb Pop.