Ferrero Group has signed an agreement to acquire Purely Elizabeth, a US-based modern wellness brand specialising in the better-for-you food category.
Ferrero says the acquisition will further strengthen its presence at the American breakfast table. As part of the deal, the company will help Purely Elizabeth reach more consumers through continued product innovation, stronger operational capabilities and expanded distribution, navigating the brand’s next phase of growth.
Giovanni Ferrero, president of Ferrero International SA, said Purely Elizabeth is a great addition to Ferrero’s growing profile in the US, thanks to its “terrific portfolio of quality and tasty products”.
“With this transaction, Ferrero builds on its recent acquisition of WK Kellogg Co, reinforcing both its presence at breakfast time in America and its reach in the better-for-you segment.”
Founded in 2009, Purely Elizabeth has seen its sales more than double over the past two years, driven mainly by its pioneering portfolio of granola, oatmeal and cereals, as well as its entry into the fast-growing protein segment.
“Building Purely Elizabeth from an idea 17 years ago into the brand it is today has been one of the most rewarding journeys of my life,” said Elizabeth Stein, founder and CEO of Purely Elizabeth. She added that Ferrero represents the result of finding a partner who understands what makes the brand special and shares its commitment to quality, innovation and long-term building.
Under the integration, Purely Elizabeth will remain a standalone brand within the Ferrero Group, with Stein continuing in her role alongside the existing leadership team.
Lapo Civiletti, president of Ferrero Ice Cream and WK Kellogg Co, said Purely Elizabeth’s ability to stay in tune with evolving consumer preferences through premium products makes it a highly complementary fit for Ferrero’s portfolio and aligns with its strategy of investing in high-growth categories.
“We look forward to supporting the brand’s continued growth while preserving the entrepreneurial spirit that has made it successful.”
The transaction is expected to close in the coming months, subject to customary closing conditions and regulatory approvals.
