In its first 69 years of activity, Ferrero, founded in Alba in 1946, has always grown internally, i.e. without ever making acquisitions of other industries. It has always developed by launching new products and new own brands, entering new markets, building factories in other countries as well, modifying its machinery and systems in-house, without even patenting them, so that they remain inimitable by third parties. A strategy that has paid off, very much and which, therefore, seemed destined to continue.
Instead, surprising many, Giovanni Ferrero, the last son of the unforgettable Michele, as soon as he took command of the confectionary colossus born in Alba, changed course. He has begun to buy other companies, to expand the diversification of the range on offer and, recently, has even made an agreement with Unilever, an Anglo-Dutch multinational, aimed at selling Kinder-branded ice cream, starting next year.
Among other things, the echo of the acquisition of the US Ferrara Candy has not yet died down (candies and sweets, turnover of one billion dollars a year, two plants in Illinois and two in Mexico, over 3.200 employees), that word has spread of the imminent purchase of another large American confectionary company. An indiscretion not even commented on by Ferrero, whose number 1, however, reaffirmed the will to grow further in the USA, so far the fifth largest market for the House of Nutella, Tic Tacs, Rochers, Pocket Coffee, Mon Chéri...
Even in official history, the first acquisition is considered to be that of the British Thorntons, a confectionery industry with about 3.500 employees and an annual turnover of 300 million euros) which took place in August 2015, six months after the death of Michele Ferrero and a year after that the Turkish company Oltan, a leader in the production of hazelnuts, with revenues exceeding 500 million dollars, had been taken over. After Thorntons it was the turn of the Dutch Delacre and then the American Fannie May, producer of "premium" chocolate.
All acquisitions without problems, because the Ferrero group, which in the last financial year had a turnover of 10,3 billion euros, has considerable liquidity and continues to achieve equally considerable profits. With over 30.000 employees, Ferrero sells its products in 170 countries. Just this year it was the first group in the world by reputation in the food sector and first Italian in the global ranking.
From the blog Northwest.
