Giovanni Ferrero has expanded his family's company beyond brands like Nutella and built a global powerhouse—especially through big acquisitions in the U.S.

The deal brings brands like Nutella, Kinder, Tic Tac, Frosted Flakes, and Special K under one portfolio as Ferrero expands in North America

The Italian candy maker behind Ferrero Rocher and Nutella is nearing a deal to buy cereal maker WK Kellogg , a source told Reuters, an acquisition that would combine two of the world's best known consumer food makers.