Ferrero Group

The Ferrero Group’s flagship product, Nutella, has been an indulgent breakfast fixture in Europe for over 60 years. Eyeing North American breakfast tables, the Italian candy company bought cereal manufacturer W.K. Kellogg, maker of Frosted Flakes and Froot Loops, in September for $3.1 billion, the latest and most expensive purchase in Ferrero’s aggressive North American expansion. The world’s third-largest confectioner has spent over $11.4 billion on U.S. acquisitions since 2017, starting with Ferrara Candy Company (creator of Red Hots and Lemonheads) for $1.3 billion, followed by Nestlé’s U.S. confectionery business for $2.8 billion, after which it reformulated Butterfinger with higher-quality ingredients, drawing in more demand for the candy bar.

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Excerpt limited to ~120 words for fair-use compliance. The full article is at TIME — Top.