MILAN Italy's Ferrero, the maker of Nutella chocolate spread, said on Wednesday it had bought Turkish company Oltan, one of the world leaders in the production and marketing of hazelnuts.
In a statement, the Piedmont-based Ferrero gave no financial details. It said Oltan had revenues of more than $500 million and five production plants exporting to the European Union and other important markets.
The deal is subject to regulatory approval.
A company spokesman did not elaborate beyond the statement when contacted by Reuters.
Hazelnuts are a key ingredient in Nutella and other Ferrero best-selling products such as Ferrero Rocher chocolates.
The family-owned and unlisted company, run by 89-year old patriarch Michele, had revenues of 8.1 billion euros ($11 billion)in the year to end-August 2013.
($1 = 0.7396 Euros)
(Reporting by Elisa Anzolin; editing by Keiron Henderson)