Dive Brief:
- Ferrero is buying Power Crunch from Bio-Nutritional Research for an undisclosed amount. The sweets maker said the protein snacks brand, which includes wafer bars and high-protein crisps, “has seen strong growth recently.”
- As part of the transaction, Ferrero will take over an office in Irvine, California, with approximately 50 employees joining its North American operations. The deal is expected to close in “the coming weeks.” Terms and purchase price of the transaction were not disclosed.
- Power Crunch further expands Ferrero’s presence in the better-for-you category and increases its footprint in the U.S. following several acquisitions since 2018.
Dive Insight:
For much of its time in the U.S., Ferrero was known for its Nutella spread, golden-wrapped Ferrero Rochers and minty Tic Tacs.
This changed when it spent $2.8 billion to purchase Nestlé’s U.S. chocolate business in 2018. This deal added more than 20 American candy brands to its portfolio, including Butterfinger, Baby Ruth and 100 Grand. The sweets and snacks maker bought Kellogg’s cookies and fruit snacks business for $1.3 billion a year later, which gave Ferrero an entry into cookies with the Keebler and Famous Amos brands.
In 2022, Ferrero purchased ice cream maker Wells Enterprises, adding Blue Bunny and Halo Top to its portfolio.
While the acquisition of Power Crunch further expands its U.S. reach, the nature of this deal is different from prior purchases focused on indulgent treats such as cookies, candy and ice cream.
The nearly 30-year-old Power Crunch brand gives Ferrero a better-for-you offering firmly rooted in protein, a trendy category in demand with consumers. Power Crunch’s bars and crisps also are portable, which connects with shopper interest in on-the-go snacking.
“The quality craftsmanship and thoughtful investment Ferrero applies to our portfolio has driven our success across categories. We look forward to applying the same formula to the better-for-you category,” Michael Lindsey, president and chief business officer of Ferrero North America, said in a statement.
