The Ferrero Group has announced plans to acquire Eat Natural, the UK-based maker of cereal bars, toasted muesli and granola.
Ferrero says it will maintain and further build Eat Natural’s brand authenticity, while supporting the company with distribution and expansion to new markets and category segments opportunities.
“Eat Natural is an excellent strategic fit for the Ferrero Group as we continue to expand our overall footprint and product offerings into the healthier snacking market segment,” said Giovanni Ferrero, executive chairman of the Ferrero Group. “Eat Natural is a family-orientated company who share a number of the same values as us, and like us cares deeply for our consumers, the environment and the communities in which we operate. I very much look forward to welcoming them to the Ferrero Group.”
As part of the transaction, Ferrero will take over the production facilities in Halstead, Essex, and plans to retain the management and the employees of the businesses.
“We are very happy to be joining the Ferrero Group,” said Eat Natural co-founder Praveen Vijh. “Ferrero is a fabulous company, and we are proud that they would like us to be part of their family. We have many shared ethics and both have a vision to make healthier snacking available for everyone. Like us, they pride themselves on a commitment to ingredients, taste and storytelling. We can’t wait to get started."
The transaction, subject to customary closing conditions and regulatory approvals, is expected to close in in the next months. Davis Polk & Wardwell LLP served as legal advisor to Ferrero.