By Gary Symons
TLL Editor in Chief
The Ferrara Candy Company says it has reached an agreement to acquire the Jelly Belly Candy Company through its holding company CTH Invest.
“Our dedication to creating high-quality, innovative sugar confections for the world and our deep relationships with retailers aligns perfectly with the Jelly Belly track record and passion for quality, reliability, and customer service. We look forward to working together to build on the success of all our brands.”
The proposed merger seems like a sweet deal for both parties, as the confectioners have a lot in common and plenty of tasty synergies. Both are long-time confectioners based in Illinois, and both both are sugar confectioners with similar skillsets when it comes to making candies. Both are also solid, stable firms that are among the oldest confectionery companies in the US, operating successfully for well over a century.
“As we considered the future of Jelly Belly Candy Company, we have been steadfast in our commitment to create a win-win situation for our employees, consumers, and products,” said Herman Rowland, Sr., Chairman of the Board of Directors of Jelly Belly. “When I met with the Ferrara team, I recognized a like-minded group that shares our knowledge and passion for the candy business and has the talent and resources to grow our products and the careers of our people around the world. I am confident of the continued success of Jelly Belly as part of the Ferrara portfolio.”
Headquartered in Chicago for more than 115 years and privately owned, Ferrara is the leading sugar confections company in the United States, with a rich portfolio of 20 popular brands, including Black Forest, NERDS, SweeTARTS, and Trolli. Ferrara is a Ferrero related company.
The proposed acquisition would combine Jelly Belly Candy Company’s more than 100 flavors of Jelly Belly jelly beans and gourmet specialty confections with Ferrara’s broad portfolio of sugar candies. Once the acquisition closes, nearly 800 global Jelly Belly employees and its facilities in California, Illinois, and Thailand will join the Ferrara organization. Jeff Brown, who is currently the Executive Vice President of Global Operations and Distribution of Jelly Belly, will become its Chief Executive Officer.
Like Ferrara, Jelly Belly has deep roots in Illinois, dating back to its founding in Illinois in 1869. As one of the oldest confectioners in the country, Jelly Belly has continued to be family-owned and operated by the fourth, fifth, and sixth generations of the Rowland candy-making family. Its signature brand of Jelly Belly jelly beans has been one of the most loved and recognizable candy products in the world since its introduction in 1976.
The company is also well-known for its specialty retail confections, including jelly bean lines such as BeanBoozled jelly beans and Sport Beans Energizing jelly beans. Today, Jelly Belly distributes its products in more than 60 countries across five continents and has a strong track record of sustained and profitable growth.
Current CEO Lisa Brasher says her team sees the merger as a positive outcome that will boost Jelly Belly’s fortunes even higher.
“Since our inception almost a century and a half ago, Jelly Belly Candy Company has been focused on providing exciting new flavors and continuous innovation, and we are extremely proud of the deep affinity we’ve built with our fans around the world,” said Brasher. “Ferrara’s interest reflects the substantial value of our storied brand, built on our team’s many successes, and the opportunity to drive continued growth. We look forward to being a part of this impressive company.”
Ferrara’s CEO Marco Capurso agreed, saying the two companies have very similar cultures and goals, and that Jelly Belly’s high profile in the world of confections is a major positive for the future of Ferrara.
“We are excited to bring Jelly Belly’s imaginative products and talented team into the Ferrara community,” said Capurso. “Our dedication to creating high-quality, innovative sugar confections for the world and our deep relationships with retailers aligns perfectly with the Jelly Belly track record and passion for quality, reliability, and customer service. We look forward to working together to build on the success of all our brands.”
The transaction is expected to close by the end of 2023 and is subject to certain closing conditions.
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