Ferrero to buy Irish protein bar firm Fulfil Nutrition
Subject to closing conditions and regulatory approvals, the deal is expected to close in the next months
26 April 2022 | 0
The Ferrero Group is to acquire Fulfil Nutrition, the high-quality, vitamin and protein bar company which has direct sales in UK as well as distributing to Ireland and other European and Asian Pacific markets.
In a press statement, The Ferrero Group said it “plans to maintain and further build Fulfil’s strong brand authenticity, while supporting the company and its distributors with innovation and expansion to new markets and category segments opportunities”.
As part of the transaction, The Ferrero Group will take over the brand’s iconic portfolio, and plans to retain the management, the distributors and the employees of the business.
The move will enable Ferrero to expand in this relevant better-for-you market segment.
The transaction, subject to customary closing conditions and regulatory approvals, is expected to close in the next months.
When Hershey acquired its unspecified minority stake in Fulfil three years ago, local reports in Ireland said the bar supplier was expected to post sales of around €100m (US$106.8m) in 2019.
Hershey’s investment came the year after Allied Irish Bank bought 25% of Fulfil. The deal with Hershey left Barry Connolly as Fulfil’s major shareholder through his Richmond Marketing business after his two other co-founders – Niall McGrath and Tom Gannon – were bought out the previous August.