The Ferrero Group will acquire Wells Enterprises, owner of such brands as Blue Bunny, Blue Ribbon Classics, Bomb Pop and Halo Top.
Ferrero counts such brands as Nutella, Kinder, Tic Tac and Ferrero Rocher in its portfolio, and the deal furthers its strategy to grow its presence within the ice cream category.
Both are family-owned companies, and terms of the deal weren’t disclosed. Wells will remain a stand-alone business with offices in Le Mars, Iowa, and production operations in Le Mars; Henderson, Nev.; and Dunkirk, New York.
After the transaction closes, which is expected to complete in early 2023, CEO and chief engagement officer Mike Wells will serve as an adviser to support the transition “and maintain his active role in the Le Mars community,” according to a statement. Liam Killeen, currently president of Well, will be named CEO, and the rest of the existing leadership team will remain in place.
“We are a 100-year-old company focused on adapting for the next 100 years,” said Wells in a statement. “Ferrero is a likeminded company with a commitment to providing high-quality, premium sweet-packaged food products that bring joy to consumers around the world. This acquisition puts the business in the best possible hands, and I look forward to supporting the entire Wells team and Ferrero with the transition.”