LUXEMBOURG and LE MARS, Iowa—NACS Hunter Club Gold member Ferrero is acquiring Wells Enterprises, one of the largest ice cream makers with brands that include Blue Bunny, Blue Ribbon Classics, Bomb Pop and Halo Top. The acquisition is part of Ferrero's strategic plan for the ice cream category and Wells' vision for accelerated growth.
Wells Enterprises will remain a stand-alone business with its offices in Le Mars, Iowa, and its three production operations in Le Mars and Henderson, Nevada, and Dunkirk, New York. Mike Wells, member of the founding family and current CEO and chief engagement officer, will serve as an adviser to support the transition and maintain his active role in the Le Mars community. Current Wells President Liam Killeen will be named CEO and the existing leadership team will remain in place.
"We are a 100-year-old company focused on adapting for the next 100 years," said Wells. "Ferrero is a likeminded company with a commitment to providing high-quality, premium sweet-packaged food products that bring joy to consumers around the world. This acquisition puts the business in the best possible hands, and I look forward to supporting the entire Wells team and Ferrero with the transition."
This deal continues the Ferrero Group's expansion in North America following the acquisitions of Fannie May (2017), Ferrara Candy Company (2017), and Kellogg company's cookies and fruit snacks businesses (2018).
The company has also expanded its capabilities in the region, with a new innovation center and research and development lab in Chicago, as well as two major expansions to its Bloomington, Illinois, plant. Ferrero and its related parties have more than 8,000 employees, nine offices and 18 plants in North America.
"I am delighted that Wells has agreed to join the Ferrero Group. This represents a win-win partnership, bringing together ice cream experts and confectionery champions. Together, we have the power of one and are well placed to grow and compete in the ice cream market," said Giovanni Ferrero, executive chairman of the Ferrero Group.