Food acquisition news : Nutella owner and Italian confectionery giant The Ferrero Group has completed a previously announced acquisition of US candy manufacturer Ferrara Candy Company from private equity firm L Catterton.
The transaction amount involved in the Ferrero acquisition of Ferrara Candy was not revealed by the parties.
Ferrero, which made the deal in late October, then stated that the acquisition done by one of its affiliates is likely to help it to cement its footprint in gummy and seasonal candies among other attractive confectionery categories.
Commenting on Ferrero acquisition of Ferrara Candy, Giovanni Ferrero – Executive Chairman of the Ferrero Group said: “We are pleased to complete this acquisition and welcome the Ferrara Candy Company to Ferrero.
“This acquisition expands our footprint in the important U.S. confectionery market, and establishes our presence in new categories with attractive growth prospects, such as gummy and seasonal candies.
“We look forward to growing Ferrara’s iconic brands and leveraging its manufacturing and distribution footprint and talented team.”
Ferrara Candy manufactures Trolli – a gummy candy range, Brachs, a seasonal candy range and Black Forest Organics – an organic and fruity candy range.
Todd Siwak – CEO of Ferrara on Ferrero acquisition of Ferrara Candy, said: “By joining forces with Ferrero, we will enjoy the benefits of being part of a larger, stronger, global organization that shares the core values on which Ferrara was founded.
“Together with Ferrero, we are confident in our ability to accelerate our growth plans in the U.S. and internationally, and to create exciting new opportunities for our dedicated employees.”
Ferrara Candy will be run as a separate unit by Ferrero and will continue to be headquartered in Oakbrook Terrace, Illinois.
The US candy manufacturer has four confectionery factories in Forest Park and Bellwood in Illinois, and Reynosa and Vernell in Mexico which will continue to be operated like before along with its distribution facilities in Grand Prairie, Texas and Bolingbrook, Illinois. Its engineering and R&D center in Bellwood, Illinois will also have business as usual in spite of the acquisition.
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