Italian confectioner Ferrero said it is acquiring Wells Enterprises, one of the largest U.S. ice cream makers, in a deal that will broaden both companies’ offerings.
Blue Bunny and Halo Top brand ice cream products are seen in Englewood, N.J., The Italian confection company Ferrero Group announced Wednesday that it's acquiring Wells Enterprises, the Iowa-based maker of Blue Bunny and Halo Top ice creams. Wells, founded in 1913, is one of the world's largest family-owned ice cream companies.Tuesday, Dec. 6, 2022.
The Ferrero Group, which was founded in Italy in 1946 and is now based in Luxembourg, is also family owned. Its brands __ sold in more than 170 countries __ include Kinder, Nutella, Tic Tac and Ferrero Rocher. Ferrero has more than 38,000 employees.Wells Enterprises will remain a stand-alone business, and the acquisition won't immediately impact any jobs.
Mike Wells said the combination will give his company access to Ferrero’s brands and scale. Ferrero has 8,000 employees and 18 plants in North America. “I look at it through the family’s eyes and through this community that’s all things ice cream,” Mike Wells said in an interview with The Associated Press. “You’ve got one big company that only does one thing. And if there is a challenge to that category, if things go wrong, you risk everything.”
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