Ferrero Group has entered the better-for-you segment in South America through the acquisition of Bold Snacks, a fast-growing premium protein snack company based in Brazil.
Founded in 2018, Bold Snacks has scaled rapidly a digital-first strategy, building a strong presence with its portfolio of protein bars and, more recently, expanding into whey powders.
As part of the agreement, Ferrero will assume control of Bold Snacks’ office and manufacturing facility in Divinópolis, in the state of Minas Gerais. Approximately 300 employees are expected to join Ferrero Brazil as the integration progresses.
The acquisition further strengthens Ferrero’s better-for-you offering, adding to an existing portfolio that includes Eat Natural and Fulfil in Europe, as well as Power Crunch in North America.
In Brazil, Ferrero and its affiliated company Dori Alimentos, owned by Ferrara, collectively employ around 4,500 people across five plants and three offices.
EXECUTIVE PERSPECTIVES
Commenting on the deal, Daniel Martinez Carretero, CFO of Ferrero Group, said: “We’re thrilled to welcome Bold Snacks to Ferrero. Bold Snacks is a distinctive brand with strong momentum in Brazil, and this transaction further strengthens our presence in the category while supporting the continued development of our portfolio across key geographies.”
Gabriel Ferreira, founder and CEO of Bold Snacks, added: “Becoming part of Ferrero is an amazing opportunity for our business and our people. Being recognized by a global food leader with a strong track record of building and nurturing iconic brands provides a unique opportunity to accelerate our growth and help bring Bold Snacks to more consumers than ever before.”
The transaction is expected to close in the coming months, subject to customary conditions.