Ferrero, Italy, continues to expand in the US.
The Nutelly brand is purchased from Kellogg, a US company known primarily for its chips, Keebler and Famous Amos for $ 1.3 billion (€ 1.16 billion). The American company Hostess Brands was also interested in the brand.
"We strive to build a portfolio of consolidated brands that have a strong position in their market areas. This allows us to diversify the portfolio and grow in the US, which is the largest cookie market in the world, "said Lapo Civitelli, director of Ferrero.
Ferrero increased sales by 2.1% to € 10.7 billion in fiscal year 2017/18. Growth was boosted by positive results in Germany, France, Italy, Poland, Britain and the USA. The company invested € 673 million last year.
The family-owned company controls 94 subsidiaries worldwide, operates 25 plants and operates in 170 countries.