The Italian Ferrero and the US Hershey presented their final offers to get their hands on the activities of the Swiss Nestlè that include brands of bars such as Butterfinger, Baby Ruth, Sno-Caps and Laffy Taffy. The CNBC reports to sources close to the dossier emphasizing that the transaction could be worth between 2 and 2.5 billion dollars.
According to the issuer, the Italian group led by Giovanni Ferrero seems to be the favorite because it is more willing than Hershey to be aggressive on the price. However, it may take another week to reach a decision. Nestlé announced in June that it was exploring strategic options, including an eventual sale, for its chocolate and candy trade in the United States. The business has an annual turnover of 900 million Swiss francs (924 million dollars) and, according to Ibis World, a market share of 11.5%.
Ferrero, one of the best-known names in the globe, and also one of the least known faces, if we want to make a witty little joke.
This obviously does not detract from its brand, one of the most famous in the confectionery sector and one of the most appreciated for the taste of its products.
Obviously, the Piemontese company is one of the strongest brands on the market and has recently returned to be talked about in style by buying some of the best-known brands owned by Nestlé, a multinational company also famous within the same area of products, with a deal that reached the figure of 2.8 billion dollars.
A move that not only allowed Ferrero to have access to very famous candy brands such as Butterfinger, BabyRuth, Wonka, LaffyTaffy and Nerds; but it has also officially crowned it as the third largest company in the confectionery industry on US soil after this event.
Giovanni Ferrero himself expressed his enthusiasm for this further big step forward of his creation, in fact he underlined how it is a real honor for him and all the Ferrero staff to have the opportunity to work with these historic brands and make the offer proposed by even more extensive and tasty.