Ferrero completes acquisition of Ferrara Candy

The Ferrero Group, an Italian confectionary group that makes Nutella, Tic Tac and Fannie May, completed its acquisition of Oakbrook Terrace-based Ferrara Candy Company from L Catterton.

"We are pleased to complete this acquisition and welcome the Ferrara Candy Company to Ferrero," said Giovanni Ferrero, executive chairman of the Ferrero Group. "This acquisition expands our footprint in the important U.S. confectionary market, and establishes our presence in new categories with attractive growth prospects, such as gummy and seasonal candies."

Ferrara CEO Todd Siwak added, "By joining forces with Ferrero, we will enjoy the benefits of being part of a larger, stronger, global organization that shares the core values on which Ferrara was founded. Together with Ferrero, we are confident in our ability to accelerate our growth plans in the U.S. and internationally, and to create exciting new opportunities for our dedicated employees."

Ferrero will operate Ferrara, the maker of Lemonhead, Brach's and other popular brands, as a separate unit and will maintain Ferrara's headquarters in Oakbrook Terrace as well as its existing manufacturing, distribution and engineering facilities.

Founded as a family business in Alba, Italy in 1946, Ferrero is the third-largest company in the global chocolate confectionary market, with global sales of over $12 billion, distribution across over 170 countries, and a workforce of more than 30,000 people across 53 countries. Ferrero entered the U.S. in 1969 with Tic Tac breath mints, which have become an icon in the U.S. breath mint market.

Ferrara is the third-largest U.S. non-chocolate confectionary company in the U.S., created by the merger of Ferrara Pan Candy Company Inc. and Farley's & Sathers Candy Company Inc. in 2012. Headquartered in Oakbrook Terrace the company specializes in gummies, seasonal candies, fruit snacks, and other general line candies and offers its portfolio of well-loved consumer brands and private label products through retailers predominantly in the United States.