The Ferrero Group has agreed to acquire Wells Enterprises. Wells is know for its popular ice cream brands, including Blue Bunny and Halo Top. According to Ferrero, the acquisition was motivated by the company's desire to increase growth in the ice cream category. This acquisition marks the next step in Ferrero's expansion into North America, which included the purchase of Fannie May, Ferrara Candy Company, Nestlé U.S. confectionery business, and Kellogg’s cookies and fruit snacks businesses.
In a recent quote, Mike Wells, Ferrero CEO, said, “Ferrero is a likeminded company with a commitment to providing high-quality, premium sweet-packaged food products that bring joy to consumers around the world. This acquisition puts the business in the best possible hands, and I look forward to supporting the entire Wells team and Ferrero with the transition.”