On Wednesday, Italy's premier candy maker Ferrero announced that it would be acquiring US ice cream giant Wells Enterprises.
Wells Enterprises comprises an array of well-known ice cream brands, including Blue Bunny, Blue Ribbon Classics, Bomb Pop and Halo Top.
The acquisition, the Italian confectionary titan said in a statement, is part of Ferrero's strategic growth ambitions for the ice cream category, and Wells' vision for accelerated growth.
Ferrero and Wells are both family companies with extensive confectionery and ice cream experience, quality products, proud heritage and a strong portfolio of well-loved brands.
Ferrero, which was founded in 1946 as a small pastry shop in Alba, Italy, has grown to become a global leader in sweet-packaged foods, including confectionery, biscuits, ice cream and better-for-you-snacks. Its brands include Nutella, Kinder, Tic Tac and Ferrero Rocher.
Wells has become the world's largest family owned and managed ice cream company in the decades since its founding in 1913 as a dairy delivery wagon business.
Wells Enterprises will remain a stand-alone business with its offices in Le Mars, Iowa, and production operations in Le Mars; Henderson, Nevada; and Dunkirk, New York.
After the transaction closes, Mike Wells, member of the founding family and current chief executive officer and chief engagement officer, will serve as an advisor to support the transition and maintain his active role in the Le Mars community.
Current Wells President Liam Killeen will be named Chief Executive Officer, and the existing leadership team will remain in place.
"We are a 100-year-old company focused on adapting for the next 100 years," said Mike Wells.
“Ferrero is a likeminded company with a commitment to providing high-quality, premium sweet-packaged food products that bring joy to consumers around the world. This acquisition puts the business in the best possible hands, and I look forward to supporting the entire Wells team and Ferrero with the transition."
