Ferrero moves into protein market with Brazilian Bold Snacks acquisition

The Ferrero Group has confirmed a significant deal to acquire Brazilian premium protein-based business, Bold Snacks, writes Neill Barston.

As the company noted, the move comes in response to growing consumer demand for health and wellbeing-focused product ranges, which have significantly grown in popularity. 

The agreement, which is for an undisclosed sum, is set to be completed over the next few month, subject to regulatory approval.

Founded in 2018, Bold Snacks has seen strong growth from the outset, driven by its digital strategy and innovative portfolio of protein bars, and has recently expanded into whey powders.

“We’re thrilled to welcome Bold Snacks to Ferrero, marking our first foray into the better-for-you segment in South America,” said Daniel Martinez Carretero, Chief Financial Officer of Ferrero Group.

“Bold Snacks is a distinctive brand with strong momentum in Brazil, and this transaction further strengthens our presence in the category while supporting the continued development of our portfolio across key geographies.”

As part of the transaction, Ferrero will take over Bold Snack’s office and factory in Divinópolis, Minas Gerais, with approximately 300 employees expected to join Ferrero Brazil.

“Becoming part of Ferrero is an amazing opportunity for our business and our people,” said Bold Snacks Founder and CEO Gabriel Ferreira. “Being recognized by a global food leader with a strong track record of building and nurturing iconic brands provides a unique opportunity to accelerate our growth and help bring Bold Snacks to more consumers than ever before.”

The planned acquisition adds Bold Snacks to Ferrero Group’s growing stable of better-for-you brands such as Eat Natural and Fulfil in Europe and Power Crunch in North America.

As the company observed, in Brazil, Ferrero and its affiliated company Dori Alimentos, owned by Ferrara, currently employ 4,500 people across five plants and three offices.

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