Ferrara, the leading US sugar confectionery firm, has announced it has signed an agreement to acquire peer Jelly Belly through its holding company CTH for an undisclosed amount.
Jelly Belly is a family-run company renowned for its specialty retail confections, including jelly bean brands such as BeanBoozled® and Sport Beans®. The acquisition includes Jelly Belly’s 100 flavours, 800 employees, and its facilities in California, Illinois, and Thailand.
Commenting on the acquisition, Ferrara CEO Marco Capurso said: “We are excited to bring Jelly Belly’s imaginative products and talented team into the Ferrara community. Our dedication to creating high-quality, innovative sugar confections for the world and our deep relationships with retailers aligns perfectly with the Jelly Belly track record and passion for quality, reliability and customer service”.
Jelly Belly president and chief executive officer Lisa Brasher added: “Ferrara’s interest reflects the substantial value of our storied brand, built on our team’s many successes, and the opportunity to drive continued growth. We look forward to being a part of this impressive company”.
The transaction is expected to be concluded by the end of 2023.