The Ferrero Group is expanding its reach in the protein bar aisle.
Recently, the company announced that it would be acquiring Eat Natural, a brand known for its cereal, toasted muesli, granola and protein bars.
“Eat Natural are an excellent strategic fit for the Ferrero Group as we continue to expand our overall footprint and product offerings into the healthier snacking market segment,” Giovanni Ferrero, executive chairman of the Ferrero Group said. “Eat Natural are a family-orientated company who share a number of the same values as us, and like us care deeply for our consumers, the environment and the communities in which we operate. I very much look forward to welcoming them to the Ferrero Group.”
As part of the deal, Ferrero will take over the brand’s product facilities in Halstead, U.K., with plans to retain the management and employees of the business, the company said.
“We are very happy to be joining the Ferrero Group,” Eat Natural co-founder, Praveen Vijh said. “Ferrero is a fabulous company and we are proud that they would like us to be part of their family. We have many shared ethics, and both have a vision to make healthier snacking available for everyone. Like us, they pride themselves on a commitment to ingredients, taste and storytelling. We can’t wait to get started.”
Subject to customary closing conditions and regulatory approvals, the deal is expected to close in the next few months, the companies said.
“We are bringing a much-loved, authentic product portfolio into our business, with a very strong market position in the healthier snacks segment,” Lapo Civiletti, CEO of the Ferrero Group, said. “This will allow us to be present in this relevant market segment, fulfilling the evolving needs and trends of consumers. We very much look forward to working with the Eat Natural team as we build our journey of growth together.”