“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 of the long- term vision of our business strategy,” said Daniel Martinez Carretero, CFO of the Ferrero Group, in a published on 14 February 2024. The manufacturer of chocolate and candy has its holding company in Luxembourg.

The group reported turnover of €17bn for the 2022-2023 financial year (which ended 31 August 2023), up almost 21% compared to the previous year. This is “boosted by both organic growth and acquisitions, continuing the growth strategy driven by the executive chairman Giovanni Ferrero and executed by CEO Lapo Civiletti,” noted the company’s communiqué.

The number of Ferrero manufacturing plants worldwide has increased from 32 to 37, while the group’s global workforce as of 31 August 2023 stood at 47,212 employees (up from 41,441 as of 31 August 2022).

The group has also expanded its production capacity to meet the growing demand for Ferrero products, added the press release. The year saw total capital investments of €811m--the main investments were in property, plant and equipment in Italy, the United States, Germany and Spain.

Ferrero’s press release noted that the group had acquired the ice cream maker Wells Enterprises, its operations and brands (which include include Blue Bunny, Blue Ribbon Classics, Bomb Pop and Halo Top). It also acquired the Fresystem Group, an Italian family-owned producer of frozen bakery products (part of Ferrero’s growth plans). This follows the launch of Nutella Muffins, which have been produced by Fresystem since 2021.

The group also introduced new Kinder, Rocher and Raffaello products in the ice cream segment across Europe, and rolled out Nutella and Nutella B-ready biscuits in the United States.

This article was first published in French on . It has been translated and edited for Delano.