#United States #Irvine #Ferrero Group #Power Crunch #Bio-Nutritional

Ferrero Group Expands Its Horizons with Power Crunch Acquisition

In a strategic move to broaden its product range, Ferrero Group, a global leader in sweet-packaged foods, has announced the acquisition of Power Crunch, a prominent protein snack company. The agreement was signed with Bio-Nutritional Research Group, Inc., marking an important step in Ferrero's ongoing efforts to penetrate the better-for-you snacks market.

A Growing Portfolio of Snack Offerings

Founded in 1996, Power Crunch has gained recognition in the snack industry for its innovative and nutritious protein snacks. The company has seen impressive growth, fueled by its diverse offerings that include a variety of wafer bars and high-protein crisps that launched just last year. As consumers increasingly seek healthier snack options, Power Crunch's lineup perfectly aligns with this trend, making the acquisition timely and strategic for Ferrero.

Michael Lindsey, the President and Chief Business Officer of Ferrero North America, expressed enthusiasm about welcoming Power Crunch into the family, stating, “The quality craftsmanship and thoughtful investment that Ferrero applies to our portfolio has driven our success across categories. We look forward to applying the same formula to the better-for-you category.” This commitment to enhancing their product lineup highlights Ferrero's dedication to responding to changing consumer demands for health-conscious foods.

Power Crunch’s Role within Ferrero

As part of the acquisition, Ferrero will take over an office located in Irvine, California, along with approximately 50 employees who will integrate into Ferrero's operations in North America. Kevin Lawrence, the Founder and CEO of Power Crunch, emphasized the potential for growth under Ferrero's umbrella. He stated, “The company’s commitment to quality and ambitions in the better-for-you snacks category will help bring Power Crunch to more consumers than ever before.” This partnership is expected to not only enhance Power Crunch's visibility but also strengthen Ferrero's presence in the competitive snack market.

Expansion in the Better-for-You Category

The acquisition of Power Crunch further solidifies Ferrero's expansion strategy within the better-for-you product segment. This follows their successful acquisitions of brands like FULFIL and Eat Natural in Europe. Additionally, it follows a series of strategic moves to grow their footprint in the United States, including integrating well-known chocolate brands such as Butterfinger and CRUNCH, along with cookie brands like Keebler and Famous Amos.

Notably, this strategy is part of Ferrero's broader goal to diversify its offerings and cater to the evolving preferences of consumers who are increasingly health-conscious. The anticipated closing of this transaction is set to occur in the coming weeks, pending the fulfillment of customary closing conditions.

About Ferrero Group

Ferrero Group's story began in 1946 in Italy's idyllic town of Alba. Since then, it has flourished into one of the largest players in the sweet-packaged food industry, boasting over 35 beloved brands available in more than 170 countries worldwide. Brands such as Nutella®, Kinder®, Tic Tac®, and Ferrero Rocher® stand testament to the company's strong legacy in producing high-quality products. Today, with a workforce of over 38,000 passionate employees, Ferrero focuses on creating products that help celebrate life's moments.

The company's family-driven culture, now in its third generation, emphasizes a commitment to quality, heritage, and sustainability, fostering positive relationships with the communities in which they operate. With a robust presence in North America, Ferrero continues to grow, driven by a dedication to innovation and consumer satisfaction.

As they integrate Power Crunch into their organization, Ferrero is set to enhance its portfolio significantly, marking an exciting chapter in their expansion in the better-for-you snack sector.