Ferrero moves to acquire remaining interests in Spain’s Ice Cream Factory Comaker

Ferrero has confirmed a deal to acquire remaining shares in the Ice Cream Factory Comaker and relevant group companies (ICFC), as part of its global market strategy, writes Neill Barston.

As the company explained, it had originally gained a controlling stake in Spanish-founded ICFC in July 2019 to support its long-term goals expanding its overall product portfolio.

According to Ferrero, there had been a strong spirit of collaboration within its workforces  and stakeholders, with the partnership between Ferrero and ICFC reportedly proving successful in supporting the existing business. This in turn set a solid base for future growth.

The confectionery group said it will continue working closely with ICFC management team in developing the business and is looking forward to further opportunities ahead. Consequently transaction, subject to customary closing conditions, is expected to close by December 2021.

As Confectionery Production previously reported, the move is linked to Ferrero’s delivery of its first ever  Ferrero Rocher, Ferrero Rocher Dark and Raffaello ice cream sticks, as it builds its presence in the segment.

The business revealed that it has been developing ice cream recipes in its laboratories in Alba, Italy for a period of years, with the resulting ranges now being manufactured on the company’s advanced production line in Alzira, Spain, following Ferrero’s acquisition of the Ice Cream Factory Company two years ago.

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