Ferrero to acquire U.S. chocolate confectionery manufacturer Fannie May

Additionally, Ferrero will enter into a strategic commercial partnership agreement to include selected Ferrero and Fannie May products in 1-800-Flowers gift baskets, towers and on e-commerce sites. Fannie May is a manufacturer of premium chocolates and confections and was founded in 1920 in Chicago, Illinois. Over nearly 100 years, the company has grown into one of the most well-known and loved premium confectionery brands in the Midwestern United States. According to Paul Chibe, President and CEO of Ferrero North America, Fannie May brings a valuable manufacturing, distribution and retail network to Ferrero's expanding U.S. presence. Ferrero plans to build on the Fannie May organization to support the growth of the Fannie May and Harry London brands.

The company's primary distribution channels include online leveraging 1-800-Flowers.com's e-commerce platform telephone, QVC home shopping channel, a network of 80 retail stores operated by Fannie May, conventional retail, and private label/contract manufacturing activities. Fannie May operates a production facility in Ohio and distribution centers in Ohio and Illinois, and employs 750 people full-time, with additional seasonal hires.

Giovanni Ferrero, CEO of the Ferrero Group, said, "Fannie May represents a strong strategic and cultural fit for Ferrero and we are happy that Fannie May's talented people, premium brand and quality products will become part of the Ferrero Group. The U.S. is an important growth market for Ferrero and we are excited about the opportunity to support and grow a great American brand as we continue to expand our presence in the U.S."