CTH Invest, a Belgian holding company associated with Ferrero, has announced the acquisition of Nonni’s Bakery from Vestar Capital Partners, a leading US middle-market private equity firm.
Founded in 1869, Nonni’s Bakery is described as a manufacturer of premium artisanal biscotti cookies and baked goods specializing in indulgent chocolate and inclusions-enhanced biscotti and “Cantuccini-type” cookies. Its portfolio includes brands such as Nonni’s THINaddictives, Nonni’s Bites, La Dolce Vita, and Nonni’s Snackers. The company operates four manufacturing plants with a workforce of about 350 employees.
Commenting on the acquisition, Nonni’s CEO Mark Kleinman said: “The coming together of Nonni’s Bakery with the Ferrero extended family returns Nonni’s to its Italian roots and plants our great brands into the most fertile soil for continued growth and development.”
In a statement, Ferrero said the planned acquisition would strengthen Ferrero’s presence in North America and continue its growth in the sweet-packaged food industry globally.
Terms of the transaction were not disclosed.
Source: Ferrero / Vestar Capital