A holding company behind US group Ferrara Candy Company is eyeing CPK Group, the French confectioner that owns brands including Carambar and Lutti.
In a statement on Friday (11 July), Ferrara said its European holding company has entered into “exclusive discussions” to buy CPK from investment group Eurazeo.
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Ferrara, while not owned by Ferrero Group, operates as an affiliated entity under the same ultimate control as the Italian giant.
The proposed acquisition of CPK will be submitted to relevant employee representative bodies for consultation.
It is expected to be finalised in the fourth quarter, contingent on customary closing conditions and regulatory approvals, Ferrara said.
CPK was established in 2017 following Eurazeo’s acquisition of 14 brands from Mondelez International. A year later, CPK snapped up French confectioner Lamy Lutti.
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By GlobalDataThe group, which employs more than 900 staff, has a product range that also includes Krema, Michoko and Terry’s. It has four manufacturing facilities in France, all of which would be acquired by Ferrara’s holding company if the deal is approved, the statement read.
Ferrara, which has a presence in more than 40 countries, is behind US confectionery brands such as Brach’s, Nerds and Trolli.
According to Ferrara, the deal would combine “CPK’s strong position in the European confectionary market with Ferrara Candy Company’s broad portfolio of sugar confections”.
Two years ago, Ferrara announced two acquisitions in three months. In October 2023, the company bought US confectioner Jelly Belly Candy Company.
In July that year, Ferrara acquired Brazilian snacks business Dori Alimentos through CTH, described as “the lead holding company of Ferrara”.
Last week, Ferrero confirmed it had struck a deal to buy US-based breakfast cereals business WK Kellogg for $3.1bn.
The Ferrero Rocher and Nutella maker said the transaction covers WK Kellogg’s brands in the US, Canada and the Caribbean such as Froot Loops, Special K, Rice Krispies and Raisin Bran.
WK Kellogg was spun-off from the parent Kellogg in 2023 as the business split in two to create separate independent public companies.
The other half of Kellogg – Kellanova, focused on the rest of the global cereals business outside North America, snacks such as Pringles crisps and frozen breakfast foods – is in the throes of a $36bn takeover by privately owned confectioner Mars, inked last August.
