Oakbrook Terrace, IL — Ferrero SpA has moved to acquire Ferrara Candy Co., Inc., the third-largest non-chocolate manufacturer in the U.S. Ferrero is pursuing the deal through one of its affiliated companies, the Italy-based candymaker reports.
Giovanni Ferrero, executive chairman of The Ferrero Group, says: “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 gummi and seasonal candy. 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.”
Upon closing, which is anticipated to occur in the forth quarter, Ferrara will operate as a separate unit and its headquarters will remain in Oakbrook Terrace, according to Ferrero. The acquiring firm reports it will maintain and leverage Ferrara’s existing manufacturing footprint, which includes four plants, two distributions centers and a R&D facility, with no plans for further consolidation.
Ferrero has been making inroads in the U.S. candy market in recent years, with its purchase of Fannie May Confections Brands, Inc., the opening of the world’s first Nutella Café in Chicago and the upcoming U.S. launch of its global powerhouse brand Kinder.
“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, Ferrara CEO. “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.”