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Ferrero Group has entered the better-for-you segment in South America with the acquisition of Brazilian premium protein snack company Bold Snacks.
Founded in 2018, Bold Snacks has grown through a digital-first strategy and a portfolio of protein bars, with recent expansion into whey powders.
As part of the deal, Ferrero will take over Bold Snacks’ office and manufacturing facility in Divinópolis, Minas Gerais. Around 300 employees are expected to join Ferrero Brazil.
The addition of Bold Snacks builds on Ferrero’s better-for-you portfolio, which includes Eat Natural and Fulfil in Europe and Power Crunch in North America.
In Brazil, Ferrero and its affiliated company Dori Alimentos, owned by Ferrara, employ around 4,500 people across five plants and three offices.
Ferrero Group's CFO, Daniel Martinez Carretero, said: “We’re thrilled to welcome Bold Snacks to Ferrero... Bold Snacks is a distinctive brand with strong momentum in Brazil, and this transaction further strengthens our presence in the category while supporting the continued development of our portfolio across key geographies.”
Bold Snacks' founder and CEO, Gabriel Ferreira, added: “Becoming part of Ferrero is an amazing opportunity for our business and our people. Being recognised by a global food leader with a strong track record of building and nurturing iconic brands provides a unique opportunity to accelerate our growth and help bring Bold Snacks to more consumers than ever before.”
The transaction is expected to close in the coming months, subject to customary conditions.
