Ferrero Agrees Deal For Brazilian Protein Snacking Company Bold Snacks

Bold Snacks

Packaged food companies including Kraft Heinz, Danone and PepsiCo have launched high-protein versions of their foods to respond to a change in dietary preferences toward healthier foods, accelerated by the US administration’s ‘Make America Healthy Again’ campaign as well as fast adoption of GLP-1 weight-loss drugs.

Ferrero Group CFO Daniel Martinez Carretero said the deal would mark Ferrero’s first foray into the ‘better-for-you’ segment in South America, ESM Magazine reports.

‘This acquisition is fully aligned with our long-term strategy to diversify our portfolio and strengthen our presence in fast-growing product categories that respond to evolving consumer preferences, thus reflecting our ongoing commitment to offering a broader range of products across different segments,’ Ferrero told Reuters.

Bold Snacks

Bold Snacks would remain focused on its core market in Brazil, Ferrero said, adding that new geographies may be explored in the future.

As part of the transaction, Ferrero said it would take over Bold Snacks’ office and factory in the Minas Gerais region, with approximately 300 employees expected to join Ferrero Brazil.

In Brazil, Ferrero and its affiliated company Dori Alimentos, owned by Ferrara, currently employ 4,500 people across five plants and three offices, the company said.

The proposed transaction is expected to close in the coming months, Ferrero said.

Bold Snacks founder and CEO Gabriel Ferreira stated, “Being recognised by a global food leader with a strong track record of building and nurturing iconic brands provides a unique opportunity to accelerate our growth and help bring Bold Snacks to more consumers than ever before.”