Ferrero acquires Fox’s Biscuits to expand cookie business

Nutella-maker Ferrero has agreed to purchase British company Fox’s Biscuits, as part of its strategy to expand its cookie business in Europe. The group provided no information on the value of the deal, but a source close to the matter informed that Ferrero paid GBP 250 million for Fox’s. Last year the newly acquired brands generated sales revenue of GBP 157 million.