Ferrero Group has announced that it has entered into a definitive agreement to acquire Eat Natural, a UK-based producer of high-quality cereal bars, toasted muesli, and granola.
The deal will also see Ferrero Group take over Eat Natural's company's production facilities in Halstead.
It added that it plans to retain both the management and the employees in these facilities.
The Italian confectionery group will develop Eat Natural's strong brand authenticity while supporting its expansion into new markets and product categories.
The transaction, subject to customary closing conditions and regulatory approvals, is expected to close in the coming months.
“Eat Natural are an excellent strategic fit for the Ferrero Group as we continue to expand our overall footprint and product offerings into the healthier snacking market segment,” said Giovanni Ferrero, Executive Chairman of the Ferrero Group.
“Eat Natural is a family-orientated company who share a number of the same values as us, and like us care deeply for our consumers, the environment and the communities in which we operate. I very much look forward to welcoming them to the Ferrero Group.”
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine