Global candy company Ferrero Group has agreed to buy the maker of Brach’s and Lemonhead candies.
Ferrero Group said it will operate Ferrara Candy as a separate unit. Ferrara Candy will remain headquartered in Oakbrook Terrace and continue to operate its production and distribution centers. Its facilities include manufacturing plants in Bellwood and Forest Park, a Bolingbrook distribution center, and a research and development operation in Bellwood.
“We are pleased to announce this agreement with Ferrero, which will enable the continued growth and momentum behind our iconic and well-loved brands,” Ferrara CEO Todd Siwak said in a news release.
Financial terms of the sale weren’t disclosed. The sale is expected to be completed by year’s end.
Ferrero Group is best known in the United States for Tic Tac mints, Nutella spreads, Ferrero Rocher pralines and Fannie May chocolates.
“With this acquisition, we are continuing to increase our overall footprint and product offering in the important U.S. market,” said Giovanni Ferrero, executive chairman of the Ferrero Group. “We look forward to continuing to grow the Ferrara business, investing in its brands to support expansion plans, leveraging its U.S. manufacturing plants and distribution centers, and creating opportunities for its talented people.”
Ferrara is the third-largest non-chocolate candy company in the United States, created by the merger of Ferrara Pan Candy Co. and Farley’s & Sathers Candy Co. in 2012. The company is owned by L Catterton, a $14 billion global private-equity firm.
Ferrero is the No. 3 chocolate candy maker worldwide with sales of over $12 billion. The company employs more than 30,000 people in 53 countries.