Ferrero's Sweet Expansion Plans
#ferrero #wk kellogg #acquisition #food
Ferrero announces plans to acquire WK Kellogg, further strengthening their position in the global food market.
Butterfinger is a well-known American candy bar characterized by its crunchy peanut butter core coated in chocolate. It was invented in 1923 by Otto Schnering, founder of the Curtiss Candy Company near Chicago, Illinois. The candy’s name was chosen through a public contest, inspired by the baseball term "butterfinger" referring to a player who drops the ball[1][2][3]. The Curtiss Candy Company, established in 1916, launched Butterfinger alongside its other famous product, Baby Ruth. Early marketing was innovative and bold; notably, the company dropped Butterfingers attached to tiny parachutes from airplanes over major U.S. cities, including New York, creating a memorable publicity stunt that boosted popularity[1][2][3]. Initially, Butterfinger was even marketed as a protein-rich meal replacement, reflecting the era’s food trends[2]. Ownership of Butterfinger has changed several times. Curtiss Candy was bought by Standard Brands in 1964, which merged with Nabisco in 1981. Nestlé acquired Butterfinger from RJR Nabisco in 1990 after the latter’s leveraged buyout[1][5]. Under Nestlé, Butterfinger maintained strong sales, ranking as the 11th most popular candy bar in the U.S. chocolate confectionery market by 2010, with $598 million in sales[1]. However, it was withdrawn from the German market in 1999 due to consumer rejection linked to genetically modified ingredients, influenced by Greenpeace campaigns[1]. In 2018, Nestlé sold Butterfinger, along with over twenty other U.S. confectionery brands, to the Italian company Ferrero SpA for $2.8 billion. Ferrero updated the Butterfinger recipe in 2019, which initially faced some consumer backlash but ultimately led to a 17.7% sales increase[1][3]. Today, Butterfinger remains a beloved candy bar in the U.S. an
#ferrero #wk kellogg #acquisition #food
Ferrero announces plans to acquire WK Kellogg, further strengthening their position in the global food market.