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Ferrero will acquire US ice cream manufacturer, Wells Enterprises, to support its growth strategy in the ice cream category.
The acquisition, which is expected to accelerate Wells's growth, encompasses operations and brands, which include Blue Bunny, Blue Ribbon Classics, Bomb Pop, and Halo Top.
Wells will “remain a standalone business” with its offices in Le Mars, Iowa, under Ferrero’s ownership. The company will also maintain production operations in Le Mars, as well as in Henderson, Nevada, and Dunkirk, New York.
Following the acquisition, Wells CEO Mike Wells will serve as an “adviser to support the transition,” and current president Liam Killeen will be appointed as CEO.
Ferrero executive chairman, Giovanni Ferrero, described the transaction as one that brings together ice cream experts and confectionery champions.
The transaction is expected to close in early 2023.
