New Update:
- Ferrero has acquired Power Crunch from Bio-Nutritional Research in a deal of undisclosed value. The protein snacks brand, known for its wafer bars and high-protein crisps, has experienced significant growth in recent times.
- With this acquisition, Ferrero will be taking over an office in Irvine, California, and around 50 employees will join its North American operations. The transaction is set to be finalized in the coming weeks, with details of the purchase price remaining confidential.
- Adding Power Crunch to its portfolio enhances Ferrero’s presence in the better-for-you category and expands its footprint in the U.S., following a series of acquisitions since 2018.
Insightful Analysis:
Traditionally known for brands like Nutella, Ferrero made a strategic shift in the U.S. market with the acquisition of Nestlé’s U.S. chocolate business in 2018. This move brought over 20 American candy brands under Ferrero’s umbrella, including Butterfinger, Baby Ruth, and 100 Grand. The company further diversified its offerings by acquiring Kellogg’s cookies and fruit snacks business in a $1.3 billion deal, gaining access to popular brands like Keebler and Famous Amos.
In 2022, Ferrero expanded its portfolio by acquiring Wells Enterprises, a prominent ice cream maker, which added Blue Bunny and Halo Top to its lineup.
The purchase of Power Crunch aligns with Ferrero’s strategy of broadening its reach in the U.S. market. Unlike previous acquisitions focused on indulgent treats, Power Crunch brings a health-conscious offering centered around protein, catering to the growing consumer demand for nutritious snacks. The brand’s portable bars and crisps also cater to the trend of on-the-go snacking.
Michael Lindsey, president and chief business officer of Ferrero North America, expressed excitement about the acquisition, highlighting the company’s commitment to quality and innovation in the better-for-you category.