- Giovanni, the chief executive at the Ferrero group, released a statement on Thursday denying assertions that the company behind Nutella has been approach by Nestle to sell. He also indicated that Ferrero is not currently up for sale.
- His 88-year-old father, Michele Ferrero, is the owner of the Italian sweets empire, and has historically resisted acquisition bids.
- The elder Ferrero's son Pietro, who died of a heart attack in 2011, had been expected to take over the family business, but future plans for succession remain a mystery.
Reuters reports that Ferrero could be worth as much as 18 billion Euros ($24.6 billion), and with brands such as Ferrero Rocher, Kinder and Nutella in its portolio, it's easy to see why a Cadbury or Nestle would be interested in making a deal. Ultimately, it may come down to how committed the family is to the company in the long term.