Ferrero SpA was founded in 1946 in Alba, Piedmont, Italy, by Pietro Ferrero, a confectioner and small-time pastry maker who laid the groundwork for Nutella and added hazelnut to save money on chocolate, taking the idea from gianduia, a sweet chocolate spread containing about 30% hazelnut paste, invented in Turin during Napoleon’s regency (1796–1814). The company saw a period of tremendous growth and success under Pietro’s son Michele Ferrero, who in turn handed over the daily operations to his sons, Pietro Jr. and Giovanni Ferrero (the founder’s grandsons).
In 1946, Pietro Ferrero invented a cream of hazelnuts and cocoa, derived from gianduja and called it Pasta Gianduja. The initial product came in solid loaves wrapped in aluminium foil, which had to be sliced with a knife, and was succeeded by a spreadable version called Supercrema.
With assistance from his brother Giovanni Ferrero Sr., Pietro Ferrero created his new company to produce and market the initial product. Pietro was succeeded by his son Michele Ferrero as chief executive. Michele and his wife Maria Franca relaunched his father’s recipe as Nutella, which was first sold in 1964. After World War II, they opened production sites and offices abroad, and Nutella eventually became the world’s leading chocolate-nut spread brand. Ferrero is the world’s largest consumer of hazelnuts, buying up 25% of global production in 2014. The company is currently run by Giovanni Ferrero, grandson of Pietro and son of Michele Ferrero.
- The company places great emphasis on secrecy, reportedly to guard against industrial espionage. It has never held a press conference and does not allow media visits to its plants. Ferrero’s products are made with machines designed by an in-house engineering department.
- In 2014, They acquired Oltan Group, the largest hazelnut supplier in the world.
- They acquired the British chocolate retailer Thorntons in June 2015 for £112 million.
- In 2016, They acquired Belgian biscuit brands Delacre and DeliChoc from United Biscuits.
- In March 2017, They bought the US chocolate maker Fannie May from 1-800-Flowers.com. The deal closed on 30 May 2017, and Ferrero paid $115 million. Ferrero indicated that they hope to expand Fannie May, with locations across the US, not just in Chicago.
- On 30 March 2017, it was announced that Lapo Civiletti would be the first non-family CEO in the history of the company, taking up the role from 1 September, while Giovanni Ferrero would become the executive chairman, focusing on long-term strategy.
- In October 2017, They announced that they would acquire the Ferrara Candy Company. The acquisition was completed that December.
- On 16 January 2018, it was reported that Ferrero was purchasing Nestlé‘s American confectionery business for $2.8 billion. The deal included such brands as Baby Ruth, Crunch Bar and Butterfinger, but did not affect Nestlé’s confectionery business elsewhere, and did not include Kit Kat, Nesquik or the Toll House baking line. The acquisition was completed in March 2018.
- On 29 July 2019, They further expanded its US operations by purchasing a collection of business owned by Kellogg’s. Included in the deal were Kelloggs’ cookie, fruit and fruit-flavoured snack, ice cream cone and pie crust businesses including famous brands such as Famous Amos, Murray’s, Keebler, Mother’s and Little Brownie Bakers (one of the producers of the cookies for the Girl Scouts of the USA), as well as a leased manufacturing facility in Baltimore, six food manufacturing facilities across the country, and two plants in Chicago. They paid Kellogg’s $1.3 billion.
- In early 2020, a subsidiary of Ferrero purchased Campbell Soup Company’s stake in the Danish bakery Kelsen Group for $300 million.
- In October 2020, it was announced that They would buy UK company Fox’s Biscuits for £250 million. In December 2020, They announced it was acquiring healthy snack company Eat Natural.
- In June 2021, They bought British firm Burton’s Biscuit Company, which at the time of purchase employed 2,000 people at six plants in the UK. It is believed the transaction was made for about £360 million.
- In April 2022, it was announced Ferrero had acquired the Dublin-based vitamin and protein bar producer, Fulfil Nutrition.[citation needed]
- In December 2022, the company announced its acquisition of Wells Enterprises, an American ice cream manufacturer based in LeMars, Iowa. Wells Enterprises is best known for Blue Bunny, Blue Ribbon, Bomb Pop, and Halo Top brands. Wells Enterprises also has facilities in Henderson, Nevada and Dunkirk, New York.
- In February 2023, it was announced They would acquire the Naples-based frozen bakery company, Fresystem SPA.
