MILAN (Reuters) - Nutella-maker Ferrero has agreed to buy Eat Natural, a British maker of cereal bars, muesli and granola, to expand into healthier snacks, the companies said on Thursday.
As part of the deal, Italy-based Ferrero will take over Eat Natural’s production facilities in Halstead, southeast England, and plans to retain the company’s management and employees.
The deal is expected to close in the coming months, the companies said, without disclosing any financial details.
“Eat Natural are an excellent strategic fit for the Ferrero Group as we continue to expand our overall footprint and product offerings into the healthier snacking market segment,” said Ferrero’s Executive Chairman Giovanni Ferrero.
Ferrero has expanded rapidly over the past five years under the leadership of the son of Michele Ferrero, the late creator of the famous Nutella hazelnut spread. In October it agreed to buy Britain’s Fox’s Biscuits.
Reporting by Sabina Suzzi; Editing by Mark Potter
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