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Italy's Nutella producer Ferrero to buy US confectioner Ferrara

Europe
19.10.2017
By our dpa-correspondent and Europe Online    auf Facebook posten  Auf Twitter posten  
Rome (dpa) - Italian sweets producer Ferrero, best known for the Nutella hazelnut spread, says it will buy US confectioner Ferrara for an undisclosed amount.

In a statement, Ferrero said its new asset is the third-largest US non-chocolate confectionery company, famous for the Brach‘s Halloween and Black Forest Organics sweets.

"With this acquisition, we are continuing to increase our overall footprint and product offering in the important US market," Ferrero‘s executive chairman, Giovanni Ferrero, said.

The takeover should be completed in the last quarter of 2017, pending regulatory approval, Ferrero said.

Ferrero‘s products includes Kinder chocolate eggs, Ferrero Rocher pralines and Tic Tac mints. It is the world‘s third-largest chocolate maker after US rivals Mars and Mondelez International.

 

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