Dive Brief:
Ferrero, known for its iconic brands like Nutella, Ferrero Rocher, and Tic Tacs, has been expanding its portfolio through strategic acquisitions to connect with consumers across different eating occasions.
Dive Insight:
In 2018, Ferrero acquired Nestlé’s U.S. chocolate business for $2.8 billion, adding popular brands like Butterfinger, Baby Ruth, and 100 Grand to its lineup. The company later purchased Kellogg’s cookies and fruit snacks business for $1.3 billion, gaining access to brands like Keebler and Famous Amos. In 2022, Ferrero bought ice cream maker Wells Enterprises, bringing Blue Bunny and Halo Top under its umbrella.
The addition of WK Kellogg’s cereal brands like Frosted Flakes and Froot Loops allows Ferrero to enter the breakfast table market. Giovanni Ferrero, executive chairman of Ferrero, highlighted the company’s commitment to investing in and growing these iconic brands post-acquisition.
Speaking on the acquisitions, Ferrero stated, “Today’s news is a key milestone in our journey, giving us confidence in the opportunities ahead.” Following the transaction, WK Kellogg’s headquarters in Battle Creek, Michigan, will continue to serve as a core location for Ferrero’s North American cereal business.
Stay tuned for more updates on this evolving story.