Ferrero pockets the green light from the European Union for the acquisition of the Turkish company Otlan, a leading company in the production and marketing of hazelnuts. With the transaction, which sees Ferrero take over 100% of Oltan, the Italian company becomes the world's leading hazelnut producer.
The hazelnut production sector is of central importance for the Pino Torinese group. In fact, Ferrero's spearhead products all require hazelnuts as a fundamental ingredient: from Nutella to Ferrero Rocher, from Kinder Bueno to Kinder Surprise.
However, the green light from Brussels was not taken for granted. In fact, the anti-trust rules which prohibit the creation of monopolies which would not guarantee the necessary competition to protect the consumer, did not seem to be able to allow Ferrero to become a colossus in the production of hazelnuts – even more than it already is.
Ferrero, at the end of August, closed with revenues of 8,1 billion dollars. The news of the acquisition of the Turkish hazelnut producer can only be good for Ferrero's earnings, which from now on will be able to count on an all-home-made package of a focal ingredient.
