Confectionery Firm Ferrara Sold to Nutella Maker FerreroConfectionery Firm Ferrara Sold to Nutella Maker Ferrero
October 20, 2017
Multinational confectionery firm The Ferrero Group, the maker of Nutella and Kinder chocolates, entered into a definitive agreement with private equity firm L Catterton to purchase Oakbrook Terrace, IL-based Ferrara Candy Company for undisclosed terms, the companies announced in a joint press release Wednesday.
Producing gummy candies sold under the Trolli and Black Forest Organics brands, Brachs hard candies, and other confectionery products, the acquisition of Ferrara expands the Ferrero Group’s portfolio in the United States.
“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 gummy and seasonal candies,” said Giovanni Ferrero, executive chairman of The Ferrero Group in the release.
The acquiring company said it plans to retain Ferrara’s headquarters in Oakbrook Terrace and run the American firm as a separate unit. It will also continue to operate Ferrara Candy’s four production plants in Illinois, two distribution centers in Illinois and Texas, and an engineering and R&D facility in Bellwood, IL.
Pending regulatory approvals and other customary closing conditions, the sale is slated to close in the last quarter of 2017.
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