Ferrara to Acquire Jelly Belly Candy Company
Ferrara Candy Company will acquire Jelly Belly Candy Company through CTH Invest, the lead holding company of Ferrara. Financial terms of the transaction were not disclosed.
The proposed acquisition would combine Jelly Belly Candy Company’s more than 100 flavors of Jelly Belly jelly beans and gourmet specialty confections with Ferrara’s broad portfolio of sugar candies. Once the acquisition closes, nearly 800 global Jelly Belly employees and its facilities in California, Illinois and Thailand will join the Ferrara organization.
Jeff Brown, who is the executive vice president of global operations and distribution of Jelly Belly, will become its chief executive officer.
Jelly Belly Candy Company’s roots date back to its founding in Illinois in 1869 and it has continued to be family-owned and operated by the fourth, fifth, and sixth generations of the Rowland candy-making family. Its signature brand of Jelly Belly jelly beans has been one of the most loved and recognizable candy products in the world since its introduction in 1976. Its extensive portfolio includes more than 100 flavors of its well-known jelly beans and a wide variety of other candies.
The company is also well-known for its specialty retail confections, including jelly bean lines such as BeanBoozled jelly beans and Sport Beans Energizing jelly beans. Today, Jelly Belly distributes its products in more than 60 countries across five continents and has a strong track record of sustained and profitable growth.
Headquartered in Chicago for more than 115 years and privately owned, Ferrara is the leading U.S. sugar confections company and the manufacturer of 20 beloved brands such as Black Forest, NERDS, SweeTARTS and Trolli. Ferrara is a Ferrero related company.
“As we considered the future of Jelly Belly Candy Company, we have been steadfast in our commitment to create a win-win situation for our employees, consumers, and products,” said Herman Rowland, Sr., Chairman of the Board of Directors of Jelly Belly. “When I met with the Ferrara team, I recognized a like-minded group that shares our knowledge and passion for the candy business and has the talent and resources to grow our products and the careers of our people around the world. I am confident of the continued success of Jelly Belly as part of the Ferrara portfolio.”
“Since our inception almost a century and a half ago, Jelly Belly Candy Company has been focused on providing exciting new flavors and continuous innovation, and we are extremely proud of the deep affinity we’ve built with our fans around the world,” said Lisa Brasher, President and Chief Executive Officer of Jelly Belly. “Ferrara’s interest reflects the substantial value of our storied brand, built on our team’s many successes, and the opportunity to drive continued growth. We look forward to being a part of this impressive company.”
“We are excited to bring Jelly Belly’s imaginative products and talented team into the Ferrara community,” said Marco Capurso, Chief Executive Officer of Ferrara. “Our dedication to creating high-quality, innovative sugar confections for the world and our deep relationships with retailers aligns perfectly with the Jelly Belly track record and passion for quality, reliability, and customer service. We look forward to working together to build on the success of all our brands.”
The transaction is expected to close by the end of 2023 and is subject to certain closing conditions.
Raymond James acted as exclusive financial advisor and Foley & Lardner LLP served as legal counsel to Jelly Belly. Davis Polk & Wardwell LLP served as legal counsel to Ferrara Candy Company.
For more than 115 years, Ferrara has created sugar confections that enable moments of sweetness, celebration, and connection for candy lovers of all generations. Today, the company is a leading sugar confectioner in the United States with its broad portfolio of Ferrara products and a leader in Brazil through its Dori Alimentos products.
Ferrara boasts a passionate team of more than 7,500 employees creating and delivering hundreds of products sold under 20 popular brands like NERDS, SweeTARTS, Laffy Taffy and Trolli to more than 66 million U.S. households annually and popular Dori snacking products under brands such as Dori, Gomets, Pettiz and Yogurte 100 in Brazil.
Ferrara’s innovation success has been driven by deep consumer insights, strong retailer co-creation and partnerships, and a dedication to diversity of thought, experience, and people. A privately held company, Ferrara has its global headquarters in Chicago and an operational network of more than 27 locations in North America, Brazil and China that includes manufacturing, distribution, sales, and R&D facilities. Ferrara is a privately held Ferrero related company.
With candy-making roots dating back to 1869, Jelly Belly Candy Company began making Jelly Belly jelly beans in 1976. Today, Jelly Belly confections are sold all over the world and the company has remained family-owned and operated by the fourth, fifth, and sixth generations of the candy-making family.
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Braga to Receive Grower of the Year Award at OGS
The Organic Grower Summit presented by Western Growers and OPN will honor longtime organic grower Rod Braga as the recipient of the sixth annual Grower of the Year award. Braga, president and CEO of Braga Fresh, was selected based on his ongoing commitment and dedication to excellence in organic production, organic industry leadership, and innovation.
The Grower of the Year award, sponsored by AGCO, will be presented to Braga as part of the keynote presentation at the Organic Grower Summit on Nov. 29-30 in Monterey, Calif. The Grower of the Year presentation is part of an extensive educational program designed to inform and engage organic producers and their service providers and supply chain partners.
“We are honored to present the annual Grower of the Year award to Rod Braga — truly a grower’s grower,” said Matt Seeley, CEO of Organic Produce Network. “His decades-long work exemplifies what hardworking, passionate organic farming means to the success of Sledge, regional sales director for AGCO. Previous winners of the award have been Jeff Huckaby, CEO of Grimmway Farms (2022); Vic Smith, CEO of JV Smith Company (2021); the Lundberg Family (2019); Thaddeus Barsotti of Capay Organic (2018); and Vernon Peterson of Peterson Family Farms (2017).
The sixth annual OGS is designed to provide information vital to organic growers and producers, including an overview of the opportunities and challenges in the production of organic fresh food.
In addition to the annual Grower of the Year award, the other keynote presentation at OGS 2023 will be Grower Roundtable: The State of Organic Growing. Panelists for the keynote roundtable include leadership from three prominent organic companies, who will be announced later this month.
Other educational sessions slated for OGS 2023 include:
- SOE Deadline Looms — Are You Ready?
- Understanding Evolving Production Challenges for Organic Growers
- Regenerative — What Does it Mean for Organic?
- Unlocking the Value of AI on the Digital Farming Journey
- Meet the Ag Sharks
- Roadmap to a Sustainable Pest Management Future for Organics
- How Organic Growers Are Using Ag Tech: Obstacles & Opportunities
OGS 2023 will be held Nov. 29-30 at the Hyatt Regency Monterey Hotel & Spa in Monterey, Calif., and general registration is open. The sold-out OGS trade show floor will feature soil amendment, ag tech, food safety, packaging, and equipment exhibitors who will have the opportunity to connect with organic field production staff, supply chain managers, pest management advisors, and food safety experts.
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Hong Kong Wine & Dine Festival Returns After 5 Years
Hong Kong Tourism Board invites food and wine lovers from around the world to celebrate the return of the city’s large-scale outdoor culinary event, Hong Kong Wine & Dine Festival. The four-day festival kicks off a month-long series of exciting nightlife events taking place citywide throughout November.
Taking place from Oct. 26-29 at Victoria Harbour’s Central Harbourfront Event Space, Hong Kong Wine & Dine Festival 2023 will be a four-day gourmet extravaganza backdropped by the iconic city skyline. After a five-year hiatus, the physical event is back, and ready to welcome visitors to visit nearly 300 booths showcasing global food and wine,
Wine will naturally be a focus of the festival, with the popular Major Country Pavilions showcasing makers from 36 countries around the world. This year, the spotlight will be on the classic vintages from France and Italy and emerging wine regions from Thailand, Moldova and Finland. In a Festival first, a dedicated display for Chinese Wine Discovery is being introduced, featuring wine merchants including Xige Estate and Chateau Mihope from Ningxia (Northwest China), Yunnan Red Wine & Spirits, and Shandong-based Mystic Island Winery.
Visitors can indulge in a diverse array of global flavors, with dishes ranging from punchy, street food and nostalgic local favorites to refined hotel delicacies.
New to the Festival is Tasting Theatre, a series of hands-on workshops for visitors feeling inspired to roll up their sleeves and don an apron. Cooking demonstrations and workshops will be led by celebrity chef He Jiansheng from Shunde, Guangdong and award-winning Taiwanese baker Wu Pao-chun, who will join Hong Kong Wine & Dine Festival for the first time.
Hong Kong Wine & Dine Festival 2023 will serve as a launching pad for a month of culinary celebrations taking place around Hong Kong. Throughout November, Taste Around Town will highlight over 300 of Hong Kong’s best places to eat and drink, with exclusive discounts, limited-time menus and more that will strengthen Hong Kong’s position as one of the world’s top dining destinations.
For more details about Hong Kong Wine & Dine Festival 2023 – and for more ways to experience Hong Kong’s world-class food scene and nightlife, please visit the HKTB website: DiscoverHongKong.com/WineDineFestival
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