BREAKING NEWS

BREAKING NEWS

Revenue at Nutella maker Ferrero reaches $12 billion after Nestle acquisition

Revenue at Nutella maker Ferrero reaches $12 billion after Nestle acquisition
FILE PHOTO: Jars of Nutella chocolate-hazelnut paste is seen in this picture illustration taken October 22, 2017. Picture taken October 22, 2017. REUTERS/Stefano Rellandini/File Photo -
@ Copyright :
Stefano Rellandini(Reuters)
Text size Aa Aa

MILAN (Reuters) - Revenue at Ferrero reached $12 billion (£9.2 billion) in the fiscal year ended in August, as the group included sales of products like Butterfinger and BabyRuth chocolate bars bought from Nestle at the end of March.

The group, which was founded by Pietro Ferrero in the Italian town of Alba in 1964, started an aggressive acquisition campaign four years ago under the leadership of Executive Chairman Giovanni Ferrero.

Last year the maker of chocolate spread Nutella and mint candies Tic Tac spent $2.8 billion buying the U.S. confectionery business of the Swiss food giant.

The company said on Wednesday its consolidated revenue rose 2.1 percent to 10.7 billion euros in the fiscal year to end August.

(Reporting by Francesca Landini; Editing by Kirsten Donovan)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.