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April 6, 2018
NORTH AMERICA–The Ferrero Group has entered into an agreement with L Catterton to buy the Ferrara Candy Company, a U.S.-based non-chocolate confectionery company.
Terms of the transaction were not disclosed; however, Ferrero expects to operate Ferrara as a separate unit and to maintain the company’s headquarters in Oakbrook Terrace, Ill. The acquisition is also subject to customary closing conditions and regulatory approvals, and is expected to close in Q4 2017.
“We are pleased to welcome the Ferrara business, brands and people to Ferrero. With this acquisition, we are continuing to increase our overall footprint and product offering in the important U.S. market, establishing a presence in new confectionery categories with attractive growth prospects, including gummy and seasonal candies,” says Giovanni Ferrero, executive chairman, Ferrero Group. “We look forward to continuing to grow the Ferrara business, investing in its brands to support expansion plans, leveraging its U.S. manufacturing plants and distribution centers, and creating opportunities for its talented people.”
Ferrara is best known for gummy and seasonal candy brands such as Trolli, Brachs and Black Forest Organics. Ferrero, on the other hand, is known in the U.S. for Tic Tacs, Ferrero Rocher and Nutella as well as the Fannie May and Harry London chocolate brands, which it acquired from 1-800-Flowers.com earlier this year.
“We are pleased to announce this agreement with Ferrero, which will enable the continued growth and momentum behind our iconic and well-loved brands,” says Todd Siwak, chief executive officer, Ferrara. “We have long admired Ferrero’s core values of loyalty and trust, respect and responsibility, integrity, and commitment to quality, which align closely with our passion for bringing smiles to generations of candy lovers. Joining forces with Ferrero gives us the opportunity to accelerate our growth plans in the U.S. and international markets and share best practices as part of a larger, stronger organization.”
Read more about:ferrero
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