(Patria) - The famous Italian company Ferrero, which produces, among other things, the well-known chocolate-hazelnut spread Nutella, is expanding its offer.
According to American media, Ferrero will buy the American company Wells Enterprises, which produces several well-known ice creams, such as Blue Bunny, Bomb Pop, and Halo Top. This acquisition fits into Ferrero's strategic ambitions for growth in the ice cream category, the Italian group stated, adding that both companies are family-owned and have extensive experience in confectionery.
The two parties have not disclosed the financial details of the deal. Wells, headquartered in Le Mars, Iowa, is expected to generate around $1.7 billion in revenue this year.
The transaction of Wells Enterprises is the latest in a series of deals that the Italian group has completed in the United States since 2017. Ferrero and its companies now have more than
8,000 employees, nine offices, and 18 plants in North America.
Ferrero previously acquired the Spanish ice cream company ICFC in a two-phase deal in 2019 and 2021.
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