Ferrero Group has acquired Brazilian protein snack company Bold Snacks, as part of the group’s strategy to develop its ‘better-for-you’ product portfolio.
Founded in 2018, Bold Snacks is known for its protein bars and has lately expanded into whey powders.
“Bold Snacks is a distinctive brand with strong momentum in Brazil, and this transaction further strengthens our presence in the category while supporting the continued development of our portfolio across key geographies,” said Daniel Martinez Carretero, CFO of Ferrero Group.
During the transaction, Ferrero will acquire Bold Snacks’ office and factory located in Divinópolis, Minas Gerais. About 300 employees will transition to Ferrero Brazil.
Closing of the proposed transaction is anticipated in the coming months, contingent upon standard closing conditions.
Last month, Ferrero Rocher unveiled its Easter range.
