Ferrero acquires Purely Elizabeth to expand US breakfast market presence

Ferrero has reached an agreement to acquire Purely Elizabeth, a US-based company specializing in health-oriented food products. The acquisition is part of the Italian group's strategy to consolidate its presence in the North American breakfast and natural food segments.

Purely Elizabeth, founded in 2009 and headquartered in Boulder, Colorado, focuses on granola, oats, cereals, and protein-based products. The company has reportedly doubled its revenue over the last two years, with an estimated turnover of approximately $200 million.

Giovanni Ferrero, president of Ferrero International S.A., stated that the brand is an excellent addition to the portfolio. This move follows Ferrero's recent acquisition of WK Kellogg Co., further strengthening its position in the American breakfast market. To maintain brand identity, Ferrero intends to keep founder and CEO Elizabeth Stein at the helm of the company.