Dive Brief:
- Ferrero has purchased Oltan Gıda, Turkey's largest exporter of hazelnuts. Terms of the deal were not disclosed.
- Ferrero, maker of Nutella hazelnut spread and Kinder chocolates, was already the largest customer of Oltan Gıda, accounting for some 70% of the 68,000 tons exported in the 2012-2013 season.
- Turkey dominates the world's hazelnut trade. The nation accounts for 75% of world production.
Dive Insight:
This is good news for Nutella super fans like this gal and this guy. The company has operations in place in Turkey, and the move will most likely strengthen its operations and position in the global chocolate sector.
Whatever it takes Ferrero to ensure that there's enough Nutella to go around is a wise move.