Ferrero To Buy Blue Bunny Maker Wells Enterprises

Italy's Ferrero Group said that it has agreed to buy ice cream and candy company Wells Enterprises for an amount that has not been made public.

Ferrero will purchase the ice cream brands Blue Bunny, Blue Ribbon Classics, Bomb Pop, and Halo Top as part of the acquisition.

Wells Enterprises will continue to operate as a separate entity, with offices in Le Mars, Iowa, and manufacturing activities in Le Mars, Henderson, Nevada, and Dunkirk, New York.

Following the transaction's completion, CEO Mike Wells will serve as an adviser to the transition team.

Ferrero says that the company's current president, Liam Killeen, will be named CEO, and the company's current leadership team will stay in place.

"Ferrero is a company with the same values as us. They are dedicated to making high-quality, premium, sweet packaged food products that make people happy all over the world.

The latest deal is part of Ferrero's ongoing strategy to grow in North America. It comes after the company bought Fannie May, the former Nestlé US candy business, in 2017.

Ferrero also bought the Ferrara Candy Company in 2017. The Ferrara Candy Company makes candy brands like Nerds, Trolli, Sweet-Tarts, and Black Forest.

With the latest acquisition, Ferrero and its affiliated firms now have over 8,000 people, nine offices, and 18 facilities throughout North America.