Ferrero acquires Purely Elizabeth and restructures management

Ferrero is expanding its presence in the United States healthy breakfast market through the acquisition of Purely Elizabeth, a Colorado-based brand specializing in granola, oatmeal, and wellness-oriented cereals. While the exact financial terms were not disclosed, estimates suggest a value of approximately $600 million. Purely Elizabeth, founded by Elizabeth Stein, has seen its sales more than double in the last two years. Following the completion of the deal, which is subject to regulatory approval, the brand will operate autonomously with Stein remaining as CEO.

In conjunction with its international growth and approach toward €25 billion in revenue, Ferrero is also implementing a management restructuring. Giovanni Ferrero will assume the presidency of Ferrero International, the group's holding company, focusing on long-term strategy and acquisitions. The company is introducing new divisions, including Ferrero Core, led by Alessandro Nervegna. This division will oversee major brands such as Nutella, Kinder, and Ferrero Rocher, as well as the Better-For-You segment.