Italian chocolate and confectionery major, Ferrero Rocher has announced acquisition of Eat Natural, a market leader in healthy snacking segment. Deal’s worth is yet to be disclosed. Eat Natural is a company, maker of high-quality cereal bars, toasted muesli and granola.
Eat Natural originated in the brains of two Indian friends,Preet Grewal and Praveen Vijh far from India in Britain. They started it as a confectionery firm 23 years ago and it grew leaps and bounds.
The deal is expected to close in the coming months, said a joint statement adding that the transaction is subject to customary closing conditions and regulatory approvals.
As part of the transaction, Ferrero Group will take over Eat Natural’s production facilities in Halstead, UK, and plans to retain the management and the employees of the businesses.
Ferrero, a potential competition disrupter in its segment has a turnover of gross 11.4 billion euros, making it a market boss in sweet confectionery products.
It is the producer of many iconic brands including Nutella, Ferrero Rocher, Tic Tac, Kinder and Raffaello, which are sold in over 170 countries.
Eat Natural employs over 300 people making both fruit & nut bars and cereals in their ‘Makery’ in Halstead, Essex. Eat Natural is a leading brand in the UK, where it is available in all in all major supermarkets, health stores, corner shops and petrol stations.