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April 6, 2018
Ferrero International has completed its acquisition of Fannie May Confections Brands and the Harry London chocolate brands from 1-800-Flowers.com.
Under the terms of the agreement, Fannie May will operate as a standalone entity under the Ferrero Group, with support from Ferrero U.S.A. as needed. At the same time, Ferrero U.S.A. will maintain its headquarters as well as its assembly and packaging facility in New Jersey. The acquisition also includes all operations of Fannie May, as well as a manufacturing facility in Ohio and two warehouse and distribution facilities in Ohio and Illinois.
Fannie May is a manufacturer of premium chocolates and confections founded in 1920 in Chicago, Ill. Ferrero is the third-largest company in the global confectionery market and entered the U.S. in 1969 with Tic Tac breath mints. The company also introduced Ferrero Rocher pralines and Nutella hazelnut spread to the U.S. market and is known for its Kinder chocolate products worldwide.
“Fannie May represents a strong strategic and cultural fit for Ferrero and we are happy that Fannie May’s talented people, premium brand and quality products will become part of the Ferrero Group,” says Giovanni Ferrero, chief executive officer, Ferrero Group. “The U.S. is an important growth market for Ferrero and we are excited about the opportunity to support and grow a great American brand as we continue to expand our presence in the U.S.”
Additionally, Ferrero has entered into a commercial partnership agreement to include selected Ferrero and Fannie May products in 1-800-Flowers gift baskets, towers and on e-commerce sites.
Read more about:1 800 Flowers.com
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