LUXEMBOURG — The Ferrero Group has completed its acquisition of Nestle USA's confectionery business, adding to its portfolio more than 20 brands, including Butterfinger, BabyRuth, Crunch, SweeTarts, LaffyTaffy and Nerds. The transaction, which was announced in January, was valued at approximately $2.8 billion.
“We are pleased to welcome Nestle USA’s confectionery brands and its talented employees to Ferrero,” said Giovanni Ferrero, executive chairman of the Ferrero Group. “This outstanding portfolio of iconic brands with rich histories and tremendous brand awareness is a strong addition to Ferrero’s growing U.S. platform, which includes the recently acquired Ferrara Candy Company and Fannie May Confections Brands. With our substantially increased scale and broader offering of high-quality products across the chocolate snack, sugar confectionary and seasonal categories, Ferrero is poised for continued growth in the key U.S. market.”
Ferrero, the third largest chocolate confectionery company with global sales of more than $12 billion, entered the United States in 1969 with Tic Tac and subsequently Ferrero Rocher and Nutella brands. The company recently acquired Fannie May Confections and Ferrara Candy Co.
Nestle USA’s three confectionery manufacturing plants in Illinois and office space in California will be managed by the Ferrara Candy Co., Ferrero said.
“This is an important moment for the Ferrero Group, and we are confident that our commitment to deliver value to North American consumers and customers will be strongly enhanced by the addition of these powerful brands to our portfolio,” said Lapo Civiletti, chief executive officer of the Ferrero Group.