Ferrero signs acquisition deal in USA

Following the acquisitions of Belgian firm Delacre and British company Thorntons, Ferrero International has set its sights on the US market with the acquisition of Fannie May, a confectioner based in Chicago.

The transaction, valued at $115 million, strengthens the Alba, Italy-based company’s position in the United States, already its fifth largest market.

Founded in Chicago in 1920, Fannie May is today a brand name of 1-800-Flowers.com Inc with a workforce of 750 employees, who will join the 225 already employed by Ferrero in the United States. The company sells through online, telephone and television retail platforms and has a network of 80 brand stores.