Ferrero Group Acquiring Purely Elizabeth

Ferrero Group has signed an agreement to acquire Purely Elizabeth, a high-growth modern wellness brand and leading better-for-you food company in the United States. After the deal closes, Ferrero will support Purely Elizabeth’s next phase of growth through continued product innovation, operational capabilities and expanded distribution.

Founded in 2009 and based in Boulder, Colo., Purely Elizabeth offers a portfolio of granolas, oatmeals and cereals and has more recently expanded into the fast-growing protein segment. The brand’s products contain such ingredients as oats, whole grains, nuts and seeds.

“Purely Elizabeth, with its terrific portfolio of quality, tasty products, is a great addition to Ferrero,” said Giovanni Ferrero, president of Luxembourg-based Ferrero International S.A., holding company of the Ferrero Group. “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.” 

“Purely Elizabeth has built a distinctive brand by being in tune with evolving consumer preferences through premium, innovative and delicious products, making it a highly complementary addition to our portfolio,” added Lapo Civiletti, president of Ferrero Ice Cream and WK Kellogg Co. “We look forward to supporting the brand’s continued growth while preserving the entrepreneurial spirit that has made it successful.”  

The company will continue to operate as a stand-alone brand within the Ferrero Group, with founder and CEO Elizabeth Stein remaining in her role alongside the existing leadership team. The proposed transaction is expected to close in the next few months, subject to customary closing conditions and regulatory approvals.

This article first appeared on the site of CGT sister brand Progressive Grocer.