Ferrero seeks US growth

Ferrero achieved substantial growth last year, despite inflationary pressures. The company retained market share everywhere and is looking for new growth in the United States.

21 % growth

In its financial year 2022/2023, which ended on 31 August, sales rose 20.7 % to 17 billion euros. The growth was both organic and through acquisitions, CFO Daniel Martinez Carretero reports. The producer of brands like Nutella was able to consolidate its market share in all categories and regions, while the group also expanded its production capacity, adding five production facilities and more than 5,000 employees.

In January 2023, Ferrero acquired US ice cream producer Wells, best know for its brands Blue Bunny and Blue Ribbon Classics. The deal also includes four production facilities in the United States, located in Iowa, Nevada and New York. The Italian company has long been looking to expand its business in North America and in the ice cream category for some time. In March last year, the group therefore also completed the acquisition of Fresystem, which produces the frozen Nutella Muffins.