Revenue At Nutella Maker Ferrero Reaches $12bn After Nestlé Acquisition
Revenue at Ferrero reached $12 billion (€10.6 billion) in the fiscal year ended in August, as the group included sales of products like Butterfinger and BabyRuth chocolate bars bought from Nestlé at the end of March.
The group, which was founded by Pietro Ferrero in the Italian town of Alba in 1964, started an aggressive acquisition campaign four years ago under the leadership of executive chairman Giovanni Ferrero.
Last year, the maker of chocolate spread Nutella and mint candies Tic Tac spent $2.8 billion (€2.47 billion) buying the US confectionery business of the Swiss food giant.
The company said on Wednesday its consolidated revenue rose 2.1% to €10.7 billion in the fiscal year to end August.