Ferrero continues its growth through acquisitions

Belgian holding company CTH Invest, a Ferrero affiliate, has spent $300 million to acquire Danish brand Kelsen, producer of the famous Kjeldsens and Royal Dansk butter cookies owned by Campbell Soup Company.

The acquisition brings Ferrero control of a company with a 2018 revenue of $157 million and 400 employees that sells its products in more than 100 countries worldwide, particularly China, Hong Kong and the United States.

In 2018 the Alba-based multinational acquired Nestlé’s US confectionery business for $2.8 billion, followed in April by Kellogg’s US cookies and fruit snacks businesses for $1.3 billion.

The latest deal is expected to close in the first quarter of 2020.

Image credits: Royal Dansk - Kelsen Group via Facebook