Ferrara Candy Company has made another move in the M&A market with the acquisition of Jelly Belly Candy Company, a US confectionery business.
The financial terms of the deal were not disclosed in the joint statement released by the two privately-owned companies.
Both Ferrara Candy Company and Jelly Belly Candy Company have over a century of history. This acquisition adds the Jelly Belly brand of jelly beans to Ferrara’s portfolio, which already includes the Trolli and Black Forest brands.
The statement also mentioned that nearly 800 employees of Jelly Belly and its facilities, located in the US and Thailand, will join Ferrara as part of the deal. The acquisition was made through Ferrara’s lead holding company CTH Invest.
Ferrara Candy Company, based in Chicago, considers itself “related” to Ferrero, as it became part of the Italy-based confectionery giant’s stable in 2017.
CTH Invest has also been used for previous acquisitions, such as when it acquired UK biscuit maker Burton’s Biscuit Co. in 2021.
“Our commitment to producing high-quality, innovative sugar confections for the global market, along with our strong relationships with retailers, align perfectly with Jelly Belly’s track record and its dedication to quality, reliability, and customer service,” commented Ferrara CEO Marco Capurso.
Jelly Belly’s executive vice president of global operations and distribution, Jeff Brown, will assume the position of CEO for the company.
Current president and CEO of Jelly Belly, Lisa Brasher, stated: “Ferrara’s interest demonstrates the considerable value of our renowned brand, built on the successes of our team, and the opportunity for continued growth. We are excited to be part of this impressive company.”
This acquisition of Jelly Belly marks the second acquisition announced by Ferrara in less than two months.
In July, the company revealed its purchase of Brazilian snacks business Dori Alimentos.
Dori Alimentos, based in Marília, eastern Brazil, offers various brands including Dori, Pettiz, and Jubes.
