Italian confectionery giant Ferrero has agreed to acquire Eat Natural, a UK-based maker of cereal bars, toasted muesli and granola.
Ferrero stated that it plans to support the Eat Natural brand with distribution and expansion into new markets and category segments.
As part of the deal, Ferrero will take over the production facilities in Halstead, Essex. It plans to retain the management and existing staff.
Giovanni Ferrero, Executive Chairman of the Ferrero Group, said: “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.”
Eat Natural Co-founder, Praveen Vijh, added: “Ferrero is a fabulous company and we are proud that they would like us to be part of their family. We have many shared ethics, and both have a vision to make healthier snacking available for everyone. Like us, they pride themselves on a commitment to ingredients, taste and storytelling. We can’t wait to get started.”
The transaction, for an undisclosed sum, is expected to close in the next few months.
Ferrero’s move comes just weeks after it bought Fox’s Biscuits from the 2 Sisters Food Group for £246m.
