Best known in the U.S. for Nutella and golden-wrapped Ferrero Rochers, the Ferrero Group is broadening its American ambitions with a flurry of acquisitions and sweeping innovations to its core brands, aiming to better compete with packaged sweets giants such as Hershey and Mars.
Since 2018, Luxembourg-based Ferrero has purchased scores of iconic sweet packaged food brands, including Halo Top ice cream, Butterfinger candy bar, Keebler cookies and Power Crunch protein bars. Just last month, it closed its $3.1 billion purchase of WK Kellogg, providing Ferrero with a seat at the breakfast table through cereals such as Frosted Flakes, Froot Loops and Rice Krispies.
At a time when food giants such as Keurig Dr Pepper and Kraft Heinz are breaking up, the 79-year-old food giant is taking the opposite approach. So far, the strategy is paying off.
“I’ve never seen a company like Ferrero do a combination of big M&A and big organic growth simultaneously and have it working more or less well at the same time,” Michael Lindsey, president and chief business officer for Ferrero North America, said in an interview. “The growth has been phenomenal.”
Sales have surged to $3 billion in the U.S. this year, about four times higher compared to 2018, through a carefully crafted blend of multi-billion-dollar acquisitions and sweeping innovations across some of its most popular brands. The company posted a 7.9% compound annual growth rate during the last four years, outpacing many of its competitors.
Ferrero’s goal, Lindsey said, is to become the largest sweet packaged food company in the U.S., which is currently dominated by candy and snack giants Hershey and Mars.
However, while the company has built up a vast portfolio from cereal and protein bars to ice cream and cookies, it's still a relatively unknown name in the U.S. It’s a problem Ferrero is spending millions of dollars in 2026 to try to alleviate.
Ferrero is about to embark on its largest global marketing campaign in its history by investing more than $100 million during the Super Bowl and World Cup to show consumers the company is more than just Nutella, Ferrero Rocher and Tic Tacs. The company is optimistic that the marketing push will boost sales by increasing awareness and encouraging consumers to purchase more of its brands across different categories when they shop.
At the same time, Ferrero is spending big to innovate some of its core brands. It recently launched a square form of its gold-wrapped praline treat Ferrero Rocher as well as a Butterfinger with salted caramel. Last year, it debuted Tic Tac Chewy, the first product for the confectionery giant outside of the chocolate or mints section. Ferrero also plans to bring Nutella and its fast-growing Kinder Bueno confections into the frozen space in the U.S. starting in December.
“There’s a broad sense of needing to show the American consumer who Ferrero is, the breadth and quality of our products, the breadth and quality of our brands, the scope of what we can do, both from a core business and innovation standpoint,” Lindsey said.
A key part of Ferrero’s expansion in the U.S. is spending money to build out its manufacturing and logistics footprint to keep up with demand and innovation for its cookies, biscuits and confections. The company has invested $5 billion to increase manufacturing capabilities in North America since 2019, including in Chicago, where it has expanded capacity and opened its first innovation hub outside of Europe.
“I do think that is what sets us apart,” he added. “In this current economic environment, [we're] one of the few manufacturers who's still talking about mega investments, big capital, big marketing programs, big new innovation. And that's the beauty of being in a private company ... who's willing to keep investing through up cycles and down.”
