Revenue at Nutella maker Ferrero reaches $12 billion after Nestle acquisition. Last year the maker of chocolate spread Nutella and mint candies Tic Tac spent $2.8 billion buying the U.S. confectionery business of the Swiss food giant.
Is Ferrero under Nestle?
Nutella maker Ferrero has completed the acquisition of Nestlé's US confectionery business, including more than 20 of its brands such as Butterfinger, BabyRuth, Crunch, and SweeTarts. The $2.8bn deal makes Ferrero the third largest manufacturer in the US chocolate market, according to Euromonitor.
Giovanni Ferrero — grandson of founder Pietro — owns a controlling stake in the holding company, where he is executive chairman.
Is Ferrero owned by Nestle?
The Ferrero Group and its affiliated companies (“Ferrero”), a global confectionary group, today announced a definitive agreement pursuant to which it will acquire the U.S. confectionary business from Nestlé for $2.8 billion in cash.The Ferrero Group and its affiliated companies (“Ferrero”), a global confectionary group, today announced a definitive agreement pursuant to which it will acquire the U.S.the U.S.Who Is America? is an American political satire television series created by Sacha Baron Cohen that premiered on , on Showtime. Baron Cohen also stars in the series as various characters and executive produces alongside Anthony Hines, Todd Schulman, Andrew Newman, Dan Mazer, and Adam Lowitt.https://en.wikipedia.org › wikiWho Is America? - Wikipedia confectionary business from Nestlé for $2.8 billion in cash.
Profits at the Ferrero family's operating company have almost doubled since 2008. The company introduced the Nutella and Kinder Chocolate brands in the 1960s and then expanded with products including Tic Tac mints and Ferrero Rocher. The business is now valued at $32.4 billion by the Bloomberg index.