Italy’s Ferrero Group has announced that it has agreed to acquire ice-cream and confectionery firm Wells Enterprises for an undisclosed sum.
The deal will see Ferrero acquire the ice cream brands Blue Bunny, Blue Ribbon Classics, Bomb Pop and Halo Top.
Wells Enterprises will continue as a stand-alone business, with offices in Le Mars, Iowa, and production operations in Le Mars; Henderson, Nevada; and Dunkirk, New York.
Management Changes
Upon closing the transaction, chief executive Mike Wells will serve as an adviser to support the transition.
The current president of the company, Liam Killeen, will be appointed as chief executive officer and the existing leadership team will be retained, according to Ferrero.
“We are a 100-year-old company focused on adapting for the next 100 years,” commented Mike Wells.
“Ferrero is a like-minded company with a commitment to providing high-quality, premium, sweet packaged food products that bring joy to consumers around the world. This acquisition puts the business in the best-possible hands, and I look forward to supporting the entire Wells team and Ferrero with the transition.”
Expansion In North America
The latest deal is part of Ferrero’s ongoing expansion strategy for North America and follows the acquisitions of Fannie May (2017), the former Nestlé US confectionery business, and the Kellogg Company’s cookie/biscuit and fruit snack businesses (2018).
In 2017, Ferrero also acquired the Ferrara Candy Company, which manufactures brands such as Nerds, Trolli, Sweet-Tarts and Black Forest.
With the latest deal, Ferrero and its related companies now comprise more than 8,000 employees, nine offices and 18 plants in North America.
Commenting on the acquisition, Giovanni Ferrero, executive chairman of the Ferrero Group, said, “This represents a win-win partnership, bringing together ice-cream experts and confectionery champions. Together, we have the power of one and are well placed to grow and compete in the ice-cream market.”
“As Wells transitions from one family to another, we are committed to a long and successful future, building on their legacy of fantastic products and looking after the welfare of employees and the wider community in Le Mars.”
© 2022 European Supermarket Magazine – your source for the latest A-brand news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
