Ferrero has announced that it has signed a definitive agreement to acquire Fulfil Nutrition, an Irish vitamin and protein bar producer. The transaction is expected to close in the next months. Based in Dublin, Fulfil operates direct sales into the UK, as well as distributing to other European and Asia Pacific markets.
In a statement, 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.”
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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.
FULFIL’S ORIGINS
The Irish company was launched in 2016 and made sales of about 12 million euros in its first trading year, doubling the amount in the years after that.
Fulfil’s creators, Niall McGrath and Tom Gannon, developed the product to offer 100% of an adult’s recommended daily allowance of nine vitamins to its consumers. At the time, McGrath explained that Fulfil is “the ultimate convenient and tasty treat, without any of the residual guilt from a chocolate bar.”