Ferrero, manufacturer of products like Nutella or Ferrero Rocher and Vincle’s suite client, continues its international expansion process with the purchase of the chocolate and other sweets division of Nestlé in United States.
The purchase of this division of the Swiss multinational was finished for 2.800 million dollars, 2.287 million euros. Ferrero will control, from the next quarter onwards, more than 20 brands of sweets, with Butterfinger, Cruch or Wonka among others.
With this acquisition, Ferrero becomes the third largest confectionary company in United States. The purchase also contemplates acquiring some of the Swiss group’s manufacturing plants, and the company will continue to operate through their plants in California, as well as from sites in New Jersey or Illinois.
Giovanni Ferrero, CEO in Ferrero, stated he was “excited” about the purchase, as Nestlé counts on an “excellent variety of iconic brands with a rich history and a huge growth”.
Nestlé’s CEO, Mark Schneider, ensured that Ferrero is the perfect match for “the confectionary business of the group in United States”.
Nestlé’s chocolate and other sweet’s business in the American country generated sales worth 900 million dollars (735 million euros) in 2016, which represents approximately 3% of the total sales of the group in the country, which were worth 26.700 million dollars (21.808 million euros) in 2016.
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