Ferrero makes new acquisition in the cereal market

The Ferrero Group is strengthening its position in the U.S. breakfast market with the acquisition of Purely Elizabeth, a brand known for its granola, oatmeal, and breakfast cereals. In this way, the company is further expanding its lineup of healthier food products.

“A great addition”

Purely Elizabeth will continue to operate as an independent brand within the Ferrero Group, and founder Elizabeth Stein will remain on board as CEO, the company announced in a press release. Ferrero expects the transaction—which is subject to customary closing conditions and regulatory approvals—to be completed within a few months.