Confectionery firm Ferrero Group has announced the acquisition of US ice maker Wells Enterprises as part as Ferrero’s strategy to growth in the ice cream section and Wells’ vision for accelerated growth.
Wells will remain a standalone business with its portfolio of brand such us Blue Bunny, Blue Ribbon Classics, Bomb Pop, and Halo Top under Ferrero’s ownership.
“Ferrero is a likeminded company with a commitment to providing high-quality, premium sweet-packaged food products that bring joy to consumers around the world. This acquisition puts the business in the best possible hands, and I look forward to supporting the entire Wells team and Ferrero with the transition,” said Mike Wells.
Giovanni Ferrero, executive chairman of the Ferrero Group commented: “I am delighted that Wells has agreed to join the Ferrero Group. This represents a win-win partnership, bringing together ice cream experts and confectionery champions. Together, we have the power of one and are well placed to grow and compete in the ice cream market”.
The transaction, subject to customary closing conditions, is expected to close in early 2023.