Ferrero snacks are increasingly healthier
The Group acquires the British Eat Natural, producer of cereal bars, toasted muesli and granola
The Ferrero Group today announced a definitive agreement under which it will acquire Eat Natural, a British brand producing cereal bars, toasted muesli and granola. The Group intends to maintain and further expand the authenticity of the Eat Natural brand, supporting the company in its distribution and expansion into new markets and category segments. As part of the transaction, Ferrero will acquire the manufacturing facilities in Halstead, UK, and plans to retain management and employees of the businesses.
"The transaction allows us to continue expanding our overall presence and product offering in the healthy snack market segment", said Giovanni Ferrero. "Eat Natural is a family business that shares some of our own. values and, like us, cares about consumers, the environment and the communities in which we operate. I look forward to welcoming them to the Group. "The co-founder of the English company, Praveen Vijh: "Ferrero is a fabulous company and we are honored to be part of their family. We have many shared ethical principles, the same vision and the will to produce and make increasingly healthy snacks available to everyone. Like us, they too boast a strong commitment to ingredients, taste and storytelling. We can't wait to get started".
Lapo Civiletti, CEO of the Group, said: "We are bringing a much loved and authentic product portfolio into our business, with a strong market position in the healthy snacks sector. This will allow us to be present in this relevant market segment. meeting the evolving needs and trends of consumers". The completion of the transaction, subject to the release of legal authorizations and customary closing conditions, is expected in the coming months. The legal adviser appointed by Ferrero is Davis Polk & Wardwell Llp. Houlihan Lokey's UK team served as advisor to Eat Natural.
EFA News - European Food Agency