logo
logo

Ferrero Group To Acquire Wells Enterprises, Maker Of Ice Cream Brands Blue Bunny® And Bomb Pop®

Dec 07, 2022•almost 3 years ago

Acquiring Company

Ferrero

Acquired Company

Wells Enterprises

SenningerbergHospitalityFood And BeverageManufacturing

Description

The Ferrero Group (Ferrero) and Wells Enterprises (Wells) today announced an agreement for Ferrero to acquire Wells, its operations and its strong ice cream brands, which include Blue Bunny®, Blue Ribbon Classics®, Bomb Pop® and Halo Top®. The acquisition is part of Ferrero's strategic growth ambitions for the ice cream category and Wells' vision for accelerated growth.

Company Information

Company

Ferrero

Location

Senningerberg, Luxembourg District, Luxembourg

About

For over 70 years, Ferrero has created products loved by generations. We've grown from a bakery in Alba, Italy into the third largest confectionery company in the world. Ferrero entered the North American market in 1969 and continues to spread joy with Ferrero Rocher®, Nutella®, Kinder®, Tic Tac® and Fannie May® chocolates. Ferrero Group expanded its portfolio in 2018 with the addition of Butterfinger®, CRUNCH®, Baby Ruth®, 100Grand® and other legendary chocolate brands. We are a family-owned company with 3,000 employees in eight offices and ten plants and warehouses in North America, including a cocoa processing plant in Brantford, Ontario and a planned chocolate processing factory in Bloomington, Illinois. Instilled in every aspect of our business is the entrepreneurial spirit of our founders, and their passion for quality, creativity, and innovation. Follow @FerreroNACorp on Twitter and @FerreroNACorp on Instagram. www.ferreronorthamerica.com. Contact:Kelsey McGeough kmcgeough@golin.com SOURCE Ferrero North America

Related People

Sign in to view contact details

Sign in to view contact details

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed