Candy Maker Ferrero Purchases Company That Makes Halo Top Ice Cream

Massive candy-making company Ferrero, who owns the subsidiaries behind popular products like Sweet Tarts, Nerds, and Famous Amos, is looking to expand its North American footprint. As CNBC reports, the expansion comes thanks to the purchase of Wells Enterprises, a massive ice cream company that owns Blue Bunny, Blue Ribbon Classics, and Halo Top.

An announcement was made this past Wednesday, December 7, which shared that the deal would be finalized by early 2023. The purchase bolsters a portfolio which includes not only the products mentioned above, but also Kinder, Tic Tac and Nutella. If those names don’t give you an idea of the sheer size of Ferrero, in recent years they’ve acquired Nestle’s U.S. candy business and Kellogg’s cookies and fruit snacks division. 

Ferrero got the sweet end of the deal during the pandemic as candy sales soared, reporting a global consolidated revenue of $13.3 billion for its fiscal year. With the acquisition of Wells Enterprises, those numbers are sure to increase. Retail sales of chocolate and other candy reached a record $36.9 Billion last year, findings from the National Confectioners Association say.