The Ferrero Group moves to acquire Irish vitamin and protein Fulfil bar brand
caption: Fulfil
The Ferrero Group has confirmed a deal to acquire Irish-based vitamin and protein bar company Fulfil Nutrition, as it seeks to expand its presence in the healthier options market, reports Neill Barston.
As the business explained, the firm has direct sales in the UK as well as distributing to Ireland and other European and Asian Pacific markets. It has recently recorded reported turnover of around €120 million, with the business starting its own e-commerce channel amid the pandemic.
The terms of the agreement have not been released, though Confectionery Production understands that this does not include Fulfil’s operations in the US, which are reportedly being taken forward separately by Hershey.
Notably, Ferrero stated that it planned to maintain and further build Fulfil’s existing brand identity, while offering additional distribution and innovation potential for the newly acquired business, which has a base in Dublin and was founded six years ago.
As part of the transaction, The Ferrero Group will take over the brands’ portfolio, and plans to retain the management, the distributors and the employees of the business. This move will enable Ferrero to expand in this relevant better-for-you market segment, meeting the evolving needs and trends of consumers. The acquisition remains subject to closing conditions and regulatory approvals within the next few months.