Global confectionery group Ferrero is to acquire Ferrara, the third-largest US non-chocolate confectionery company, for an undisclosed amount.
Ferrara produces confectionery products as Trolli gummy sweets, Brachs seasonal sweets, and Black Forest Organics organic fruity sweets.
“We are pleased to announce this agreement with Ferrero, which will enable the continued growth and momentum behind our iconic and well-loved brands”, said Ferrara CEO Todd Siwak. “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”.
Ferrero Group executive chairman Giovanni Ferrero added: “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 confectionary categories with attractive growth prospects, including gummy and seasonal candies”.
Ferrero said it intended to operate Ferrara as a separate unit, maintaining the firm’s headquarters in Oakbrook Terrace, IL.
Source: Ferrero (via BusinessWire)