Ferrero, the owner of brands such as TicTac, Fox’s, Kinder, and Nutella, saw its group sales jump 20.7% to €17bn during its last fiscal year, boosted by organic growth and acquisitions.
The Italian firm bought several brands in North America during the period to 31 August 2023, expanding its presence in even more categories. In recent years, the firm has grown its operations in the UK & Ireland with deals for Fulfil Nutrition, Eat Natural and Burton’s Biscuits.
Ferrero, whose global workforce expanded 14% to reach some 47,200 employees as of last August, said it expanded its production capacity to meet increasing demand for its products. Its number of manufacturing plants worldwide grew from 32 to 37.
The group noted that innovation remains at its core to support the growth of iconic brands, expanding their presence into new categories of the sweet packaged food arena.
“We are pleased to report a period of strong growth despite the economic and geopolitical challenges, with continued inflationary pressures remaining a factor across the globe. In addition to revenue growth, the global workforce has also grown by over 5,000 people, which is a testament to the long-term vision of our business strategy,” said Daniel Martinez Carretero, Chief Financial Officer at Ferrero Group.
