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January 17, 2018

Family-owned confectionery giant Ferrero has rebelled against the retreat from sugary snacks, executing a $2.8 billion buy-out of Nestlé’s US confectionery business.

Family-owned confectionery giant Ferrero has rebelled against the retreat from sugary snacks, executing a $2.8 billion buy-out of Nestlé’s US confectionery business.

The deal will make Ferrero the third-largest player in the world chocolate market, behind fellow family business Mars, and Hershey’s, which bid against the Italian company in the battle for Nestlé.

February 16, 2015

Italian confectioner Michele Ferrero, who created Kinder eggs and Ferrero Rocher for his eponymous family business, died over the weekend, aged 89. 

Italian confectioner Michele Ferrero, who created Kinder eggs and Ferrero Rocher for his eponymous family business, died over the weekend, aged 89.

The second gen passed away in Monaco, where he lived, on Valentine’s Day – one of the chocolate industry’s most important dates of the year. He had been suffering from illness for the past couple of months.

Although the business has been in the third generation for almost two decades, Ferrero was considered the main decision maker.

July 14, 2014

Russell Stover, the US family-owned chocolate maker famed for one of its product’s appearance in the feature film Forrest Gump, has sold its business to Swiss rival Lindt & Spruengli. 

Russell Stover, the US family-owned chocolate maker famed for one of its product’s appearance in the feature film Forrest Gump, has sold its business to Swiss rival Lindt & Spruengli.

It represents the third time the Missouri-based business, which has revenues of $500 million (€367.0 million), has changed to a new family’s ownership. 

Lindt, controlled by a branch of the founding Sprungli family, anticipates the acquisition will see its US turnover reach more than $1.5 billion by 2015.

June 19, 2014

Family-owned chocolate maker Whittaker’s has announced it is expanding into the Malaysian market allowing its New Zealand-made chocolates to be sold by major retailers.

Family-owned chocolate maker Whittaker’s has announced it is expanding into the Malaysian market allowing its New Zealand-made chocolates to be sold by major retailers.

The family business, founded in 1896, has previously only supplied its chocolate range to Malaysian duty free shops.

Fourth-gen Matt Whittaker, head of international markets, says flavours being introduced have not previously been available in the Malaysian market, such as such as peanut butter, macadamia nut and dark peppermint fondant.

February 25, 2014

The third-largest chocolate maker in the US, Russell Stover Candies, could net the controlling family more than $1 billion if they decide to sell the business.

The third-largest chocolate maker in the US, Russell Stover Candies, could net the controlling family more than $1 billion if they decide to sell the business.

The second-generation of the Ward family are mulling giving up the Missouri-based manufacturer of boxed chocolates, and have appointed investment bank Goldman Sachs to assess their options.

October 18, 2013

The third-gen chief executive of Italian confectioner Ferrero has rejected speculation the company is to be sold to Nestle, as questions about succession loom over the family firm.

The third-gen chief executive of Italian confectioner Ferrero has rejected speculation the company is to be sold to Nestle, as questions about succession loom over the family firm.

Giovanni Ferrero released a statement on Thursday saying the company had been approached by rival foods conglomerate Nestle, but that it was not for sale.

Commentators, however, think the company's future is far from decided, especially since the death of Ferrero's co-chief executive, Giovanni's elder brother Pietro, in 2011 from a heart attack at the age of 47.

September 24, 2013

A Canadian chocolatier that has been in the hands of its current owners for 50 years has been recognised for entrepreneurial achievement over successive generations.

A Canadian chocolatier that has been in the hands of its current owners for 50 years has been recognised for entrepreneurial achievement over successive generations.

Purdy's Chocolatiers will be presented with the Ernst & Young Family Business Award of Excellence for the Pacific region at a ceremony to be held next week.

April 8, 2012

Are you celebrating Easter today? And if so, how? That’s the question one family business set out to answer – and the results make interesting reading. 

Are you celebrating Easter today? And if so, how? That’s the question one family business set out to answer – and the results make interesting reading.

Walmart, controlled by the descendants of Sam Walton, found that among the families planning to celebrate Easter, almost 60% would buy chocolate.

May 12, 2010

Peter Thornton gave Campden FB a searingly honest interview about being ousted from his family’s business, UK-based confectionery giant Thorntons, in 1987. Peter now gives an exclusive account of the fortunes of the company since the IPO and explains what he would have done differently

Peter Thornton gave Campden FB a searingly honest interview about being ousted from his family's business, UK-based confectionery giant Thorntons, in 1987 (continue reading here). An IPO in 1988 was a vehicle through which the family ultimately tried to solve the mounting conflict between four third-generation brothers.

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