Ferrara proposes major deal for CPK Group behind Terry’s Chocolate

A bold acquisition move from US-based Ferrara Candy Company will see it take over a stable of key European confectionery brands, including the classic British founded brand, Terry’s Chocolate, reports Neill Barston.

The American confectionery business, which has over a 115 years of history and is affiliated with Ferrero, made a significant appearance at this year’s Sweets & Snacks Expo, displaying a raft of new product lines.

Its latest move, which is for an undisclosed sum, will, pending regulatory approval, take over the CPK Group, a French manufacturer and distributor of candies and chocolate, from the Eurazeo investment group.

Significantly, should the deal be approved, the employee base of CPK, which includes more than 900 workers, would become part of Ferrara Candy, with sites in Bondues, Saint-Genest, Strasbourg, and Vichy, and all would be acquired by Ferrara Candy Company’s holding company as part of the transaction

Notably, CPK formed in 2017 following the acquisition of 14 brands from Mondelez and the combination in 2018 with the company Lamy Lutti, CPK is home to iconic candy and chocolate brands.

It is active in several markets, including candy – such as Carambar, Lutti, Krema and Michoko brands, milk chocolate, namely with Terry’s – which has undergone notable product development within the past few years under new ownership,  and French chocolate brands such as Poulain and 1848, all of which are poised for growth.

As Ferrara noted, planned acquisition combines its own sugar confectionery leading lines with CPK’s confectionery strengths within chocolate, to deliver an enhanced overall portfolio.

According to the US business, CPK would continue to be French-operated for customers on the continent, and further afield.

The move comes at a particularly testing moment for the sector, amid wider economic uncertainty, with companies facing significant global tariffs under the present US government administration.

This has left a notably unpredictable trading environment that has seen confectionery companies in America face significant additional importing costs that are being passed on to consumers.

Moreover, Ferrara’s parent business, Ferrero has just made a major $3.1 billion move to buy Kellogg’s breakfast cereal business in the US, expanding its interests into the wider food market.

Marco Capurso, Chief Executive of Ferrara Candy Company, expressed his belief that the move would strengthen its portfolio.

He said: “CPK is a great portfolio of candy and chocolate brands well loved by the French and European consumer,

 “We are honoured to be the possible future owner of this company and to work with its talented team and beloved brands.”