Ferrero Group to Acquire Purely Elizabeth, Expanding Presence in U.S. Breakfast Market
Italian confectionery giant Ferrero Group has announced its acquisition of Purely Elizabeth, a popular oatmeal and granola brand known for its better-for-you products. The undisclosed deal is expected to close in the coming months, with Purely Elizabeth continuing to operate as a standalone entity under founder and CEO Elizabeth Stein.
Ferrero plans to support Purely Elizabeth’s growth through product innovation, expanded distribution, and increased operational capacity. This move marks Ferrero’s further expansion into the North American market, adding Purely Elizabeth to its portfolio of better-for-you brands that includes Eat Natural, Fulfil, and Bold Snacks.
Lapo Civiletti, president of Ferrero Ice Cream and WK Kellogg Co, expressed excitement about the acquisition, stating, “Purely Elizabeth has built a distinctive brand by being in tune with evolving consumer preferences through premium, innovative, and delicious products, making it a highly complementary addition to our portfolio.”
Purely Elizabeth has seen success in the market with its focus on functional ingredients such as protein and fiber. The brand, founded in 2009, has experienced significant sales growth in recent years, reaching $200 million in total brand sales in the previous year.
While the exact sale price was not disclosed, reports suggest Purely Elizabeth was valued at over $600 million. Ferrero’s acquisition of Purely Elizabeth is part of its strategy to invest in high-growth categories and strengthen its presence in the better-for-you food market.
With a history of strategic acquisitions, including Nestlé’s U.S. chocolate business and Kellogg’s cookies and fruit snacks division, Ferrero continues to expand its footprint in North America. The addition of Purely Elizabeth further solidifies Ferrero’s position as a key player in the breakfast and wellness food sector.