Confectionery group Ferrero has acquired Fulfil Nutrition, an Irish vitamin and protein bar producer. Financial terms were not disclosed yet.
The transaction is expected to close in the next month. Based in Dublin, Fulfil operates direct sales into the UK, as well as distributing to other European and Asia Pacific markets.
Ferrero said that it plans to “maintain and further build Fulfil’s strong brand authenticity while supporting the company and its distributors with innovation and expansion to new markets and category segments opportunities.”
As part of the transaction, the Nutella owner plans to take over Fulfil’s portfolio, while retaining the management, distribution structure and employees already in place.
“This move will enable Ferrero to expand in this relevant better-for-you market segment, meeting the evolving needs and trends of consumers,” the Italian company added.Another snack maker Hersheys has been an investor in Fulfil since 20199, when it bought a minority stake in the Dublin-based firm.
Ferrero – either through itself or a holding company owned by boss Giovanni Ferrero – has acquired a number of businesses in recent years.
Last June, Ferrero’s holding company, CTH, reportedly bought the UK’s Burton’s Biscuit Company.
In 2020, through CTH, Ferrero acquired the bulk of UK business Fox’s Biscuits from 2 Sisters Food Group after buying cereal bar, muesli and granola business Eat Natural.
