Ferrero said it will acquire Ferrara Candy Company from Catterton, a private equity firm in the world.
Terms of the transaction were not disclosed.
Ferrero said it plans to operate Ferrara as a separate unit and to maintain Ferrara’s headquarters in Oakbrook Terrace, Illinois.
It noted that Ferrara has consolidated its manufacturing and distribution footprint to four plants in Bellwood and Forest Park, Illinois, and Reynosa and Vernell, Mexico, two distribution centers in Bolingbrook, Illinois and Grand Prairie, Texas, and an engineering and R&D center in Bellwood, Illinois. It intends to maintain and leverage this existing footprint with no further planned consolidation.
The transaction is subject to customary closing conditions and regulatory approvals, and is expected to close in the fourth quarter of 2017.
About the company
Founded as a family business in Alba, Italy in 1946, Ferrero is the third-largest company in the global chocolate confectionary market, with global sales of over $12 billion, distribution across over 170 countries, and a workforce of more than 30,000 people across 53 countries. Ferrero entered the U.S. in 1969 with Tic Tac® breath mints, which have become an icon in the U.S. breath mint market. Ferrero subsequently introduced Ferrero Rocher® pralines and Nutella® hazelnut spread to the U.S. market, and recently acquired U.S. chocolate company Fannie May Confections Brands, which through its Fannie May and Harry London brands provides offerings across key categories including chocolate bars, pralines and other snacks.
About the Company
Ferrara is the third-largest U.S. non-chocolate confectionary company in the U.S., created by the merger of Ferrara Pan Candy Company, Inc. and Farley’s & Sathers Candy Company, Inc. in 2012. Headquartered in Oakbrook Terrace, Illinois, the Company specializes in gummies, seasonal candies, fruit snacks, and other general line candies and offers its portfolio of well-loved consumer brands and private label products through retailers predominately in the United States. Ferrara focuses on combining the manufacturing and distribution might of an established industry leader with a thriving, innovative spirit.