Ferrara Candy Company has struck again in the M&A market, buying fellow US confectioner Jelly Belly Candy Company.
The deal was announced in a joint statement by the two privately-owned companies that did not disclose financial terms.
Both confectioners are more than 100 years old. The transaction sees the Trolli and Black Forest brands owner add the Jelly Belly brand of jelly beans to its portfolio.
In the statement, the companies said “nearly 800 global Jelly Belly employees” and its facilities – two in the US and one in Thailand – would join Ferrara.
The acquisition was made through Ferrara’s lead holding company CTH Invest.
Chicago-based Ferrara describes itself as “related” to Ferrero, having joined the Italy-based confectionery giant’s stable in 2017.
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CTH is also the entity used to acquire businesses such as UK biscuit maker Burton’s Biscuit Co. in 2021.
“Our dedication to creating high-quality, innovative sugar confections for the world and our deep relationships with retailers aligns perfectly with the Jelly Belly track record and passion for quality, reliability, and customer service,” Ferrara CEO Marco Capurso said.
Jeff Brown, who is Jelly Belly’s executive vice president of global operations and distribution, will become its CEO.
Lisa Brasher, Jelly Belly’s current president and CEO, said: “Ferrara’s interest reflects the substantial value of our storied brand, built on our team’s many successes, and the opportunity to drive continued growth. We look forward to being a part of this impressive company.”
The acquisition of Jelly Belly is the second acquisition announced by Ferrara in under two months.
In July, the company disclosed the purchase of Brazilian snacks business Dori Alimentos.
Based in Marília in eastern Brazil, Dori Alimentos sells brands including Dori, Pettiz and Jubes.Deal focus: Ferrara Candy Co. sweetens business with Brazil buy