The Ferrero Group, a global confectionary group, announced that a Ferrero affiliated company has completed its previously announced acquisition of Ferrara Candy Company from L Catterton.
“We are pleased to complete this acquisition and welcome the Ferrara Candy Company to Ferrero,” said Giovanni Ferrero, Executive Chairman of the Ferrero Group. “This acquisition expands our footprint in the important US confectionary market, and establishes our presence in new categories with attractive growth prospects, such as gummy and seasonal candies. We look forward to growing Ferrara’s iconic brands and leveraging its manufacturing and distribution footprint and talented team.”
Todd Siwak, Chief Executive Officer of Ferrara, added, “By joining forces with Ferrero, we will enjoy the benefits of being part of a larger, stronger, global organization that shares the core values on which Ferrara was founded. Together with Ferrero, we are confident in our ability to accelerate our growth plans in the US and internationally, and to create exciting new opportunities for our dedicated employees.”
Ferrero will operate Ferrara as a separate unit and will maintain Ferrara’s headquarters as well as its existing manufacturing, distribution and engineering/R&D facilities.