M&A Deal Summary

The Ferrero Group Acquires Wells

On December 7, 2022, The Ferrero Group acquired food company Wells

Acquisition Highlights
  • This is The Ferrero Group’s 10th transaction in the Food sector.
  • This is The Ferrero Group’s 5th transaction in the United States.
  • This is The Ferrero Group’s 1st transaction in Iowa.

M&A Deal Summary
Date 2022-12-07
Target Wells
Sector Food
Buyer(s) The Ferrero Group
Deal Type Add-on Acquisition
Advisor(s) UBS Investment Bank (Financial)
McDermott Will & Emery (Legal)

Target

Wells

Le Mars, Iowa, United States
website
Wells produces more than 200 million gallons of ice cream per year and distributes products in all 50 U.S. states. The company manufactures its signature brand Blue Bunny, Halo Top, the iconic Bomb Pop, and Blue Ribbon Classics. Wells was formed in 1913 and is headquartered Le Mars, Iowa.

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Buyer(S) 1

Buyer

The Ferrero Group

Alba, Italy

website

Category Company
Founded 1946
Sector Food
Employees34,000
Revenue 10.5B EUR (2017)
DESCRIPTION

The Ferrero Group is a global manufacturer of branded chocolate and confectionery products. Ferrero was established in 1946 and is headquartered in Alba, Italy.

DEAL STATS #
Overall 10 of 10
Sector (Food) 10 of 10
Type (Add-on Acquisition) 6 of 6
State (Iowa) 1 of 1
Country (United States) 5 of 5
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Burton s Biscuits

Blackpool, United Kingdom

Burton's Biscuits is a biscuit manufacturer which supplies both quality branded and retailer brand biscuits. It owns and bakes important brands such as Maryland, Jammie Dodgers, and Wagon Wheels and also bakes biscuits for major retailers and global brands. Burton's Biscuits was formed in 2000 and is headquartered in St. Albans, UK, Burton’s operates manufacturing sites in Blackpool, Edinburgh, Llantarnam.

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