Nutella's empire is making a multibillion-dollar play for America's snack market
Italian confectionery giant Ferrero is aggressively expanding its footprint in the U.S. snack market through a series of high-profile acquisitions. The company has grown its U.S. revenue significantly by purchasing established brands like Butterfinger, Keebler, and various cereal lines.
Why it matters
Ferrero's strategy highlights the consolidation of the global snack industry and the increasing dominance of European firms in the American food sector.
Business Insider Ferrero has spent the last decade buying up some of America's biggest brands. Best known for Nutella, Ferrero has grown its US revenue from $600 million in 2017 to $3 billion. Now a $3.1 billion cereal bet could determine how far Ferrero can go. Baby Ruth, Butterfinger, Froot Loops, Frosted Flakes. They are all now owned by the same Italian company . Best known for Nutella and Ferrero Rocher chocolates , Ferrero has spent much of the past decade buying established American food brands and investing in US manufacturing. The privately held company now has more than 50 brands in its US portfolio, spanning chocolate, candy, mints, cookies, and breakfast cereal. The expansion has transformed Ferrero's US business. The company says the US accounts for about 15% of its global revenue, up from about 4% a decade ago.
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