Ferrero Group expands snacking operations with acquisition of Eat Natural
The Ferrero Group has moved to further enhance its global snacking portfolio with the acquisition of Eat Natural, the cereal bar specialist, reports Neill Barston.
As the Italian-founded company explained, as part of the deal it will preserve the values of its latest brand addition through enhancing its distribution, enabling it to expand into new markets across its product series, which also includes granola and toasted muesli.
Ferrero noted the acquisition would also involve taking over Eat Natural’s production facilities in Halstead, Essex, UK, with the business confirming that it plans to retain the management and existing employees of the company. The financial terms have not been released, but the move is expected to be closed within the next two months.
Confectionery Production recently reported the company came under the spotlight as part of the BBC television series, Inside the Factory, which explored the history of the business, which presently exports its ranges to 37 countries. Its series includes a key seller of a cranberry, macadamia and dark chocolate snack bar.
“Eat Natural is an excellent strategic fit for the Ferrero Group as we continue to expand our overall footprint and product offerings into the healthier snacking market segment,” said Giovanni Ferrero, Executive Chairman of the Ferrero Group.
“Eat Natural are a family-orientated company who share a number of the same values as us, and like us care deeply for our consumers, the environment and the communities in which we operate. I very much look forward to welcoming them to the Ferrero Group.”
Praveen Vijh, co-founder of the business, welcomed the move, which he believed would enable the business to expand to the next level. He said: “We are very happy to be joining the Ferrero Group, which is a fabulous company, and we are proud that they would like us to be part of their family. We have many shared ethics and both have a vision to make healthier snacking available for everyone. Like us, they pride themselves on a commitment to ingredients, taste and storytelling. We can’t wait to get started.”
Lapo Civiletti, CEO of the Ferrero Group, said, “We are bringing a much-loved, authentic product portfolio into our business, with a very strong market position in the healthier snacks segment. This will allow us to be present in this relevant market segment, fulfilling the evolving needs and trends of consumers. We very much look forward to working with the Eat Natural team as we build our journey of growth together.”