LUXEMBOURG — The Ferrero Group has announced it will acquire Fulfil Holdings Ltd., a Dublin, Ireland-based vitamin and protein bar company. Financial terms of the transaction were not disclosed.
“The Ferrero Group plans to maintain and further build Fulfil’s strong brand authenticity, while supporting the company and its distributors with innovation and expansion to new markets and category segments opportunities,” Ferrero said.
Fulfil has direct sales in the UK as well as distribution in other European and Asian Pacific markets. Ferrero said it plans to retain Fulfil’s current management, distributors and employees while taking over the brand portfolio. Not included in the transaction is the North American distribution of Fulfil, which is led by The Hershey Co.
The Hershey Co. purchased a minority stake in Fulfil in August 2019, and the following month acquired Charlotte, NC-based protein bar company One Brands, LLC. In 2020, One Brands began distribution of Fulfil protein bars in the United States.
The Hershey Co.’s joint venture with Fulfil will continue in North America following the Ferrero acquisition, and Hershey will cover Fulfil distribution in the United States, Canada, Mexico and associated territories, according to Hershey.“Fulfil plays a strategic role in our expanding North American snacking strategy, enabling us to provide consumers with more snacking choices across better-for-you snacks to indulgent treats,” a spokesman for Hershey said. “As a high protein snack bar that meets the growing consumer need for high protein, BFY snacking and nutrition options with vitamins and low sugar that comes in a range of delicious flavors, Fulfil fits perfectly into our growing range of permissible snacking products.”