Ferrara to Acquire Jelly Belly Candy Company
Ferrara Candy Company will acquire Jelly Belly Candy Company through CTH Invest, the lead holding company of Ferrara. Financial terms of the transaction were not disclosed.
The proposed acquisition would combine Jelly Belly Candy Company’s more than 100 flavors of Jelly Belly jelly beans and gourmet specialty confections with Ferrara’s broad portfolio of sugar candies. Once the acquisition closes, nearly 800 global Jelly Belly employees and its facilities in California, Illinois and Thailand will join the Ferrara organization.
Jeff Brown, who is the executive vice president of global operations and distribution of Jelly Belly, will become its chief executive officer.
Jelly Belly Candy Company’s roots date back to its founding in Illinois in 1869 and it has continued to be family-owned and operated by the fourth, fifth, and sixth generations of the Rowland candy-making family. Its signature brand of Jelly Belly jelly beans has been one of the most loved and recognizable candy products in the world since its introduction in 1976. Its extensive portfolio includes more than 100 flavors of its well-known jelly beans and a wide variety of other candies.
The company is also well-known for its specialty retail confections, including jelly bean lines such as BeanBoozled jelly beans and Sport Beans Energizing jelly beans. Today, Jelly Belly distributes its products in more than 60 countries across five continents and has a strong track record of sustained and profitable growth.
Headquartered in Chicago for more than 115 years and privately owned, Ferrara is the leading U.S. sugar confections company and the manufacturer of 20 beloved brands such as Black Forest, NERDS, SweeTARTS and Trolli. Ferrara is a Ferrero related company.
“As we considered the future of Jelly Belly Candy Company, we have been steadfast in our commitment to create a win-win situation for our employees, consumers, and products,” said Herman Rowland, Sr., Chairman of the Board of Directors of Jelly Belly. “When I met with the Ferrara team, I recognized a like-minded group that shares our knowledge and passion for the candy business and has the talent and resources to grow our products and the careers of our people around the world. I am confident of the continued success of Jelly Belly as part of the Ferrara portfolio.”
“Since our inception almost a century and a half ago, Jelly Belly Candy Company has been focused on providing exciting new flavors and continuous innovation, and we are extremely proud of the deep affinity we’ve built with our fans around the world,” said Lisa Brasher, President and Chief Executive Officer of Jelly Belly. “Ferrara’s interest reflects the substantial value of our storied brand, built on our team’s many successes, and the opportunity to drive continued growth. We look forward to being a part of this impressive company.”
“We are excited to bring Jelly Belly’s imaginative products and talented team into the Ferrara community,” said Marco Capurso, Chief Executive Officer of Ferrara. “Our dedication to creating high-quality, innovative sugar confections for the world and our deep relationships with retailers aligns perfectly with the Jelly Belly track record and passion for quality, reliability, and customer service. We look forward to working together to build on the success of all our brands.”
The transaction is expected to close by the end of 2023 and is subject to certain closing conditions.
Raymond James acted as exclusive financial advisor and Foley & Lardner LLP served as legal counsel to Jelly Belly. Davis Polk & Wardwell LLP served as legal counsel to Ferrara Candy Company.
For more than 115 years, Ferrara has created sugar confections that enable moments of sweetness, celebration, and connection for candy lovers of all generations. Today, the company is a leading sugar confectioner in the United States with its broad portfolio of Ferrara products and a leader in Brazil through its Dori Alimentos products.
Ferrara boasts a passionate team of more than 7,500 employees creating and delivering hundreds of products sold under 20 popular brands like NERDS, SweeTARTS, Laffy Taffy and Trolli to more than 66 million U.S. households annually and popular Dori snacking products under brands such as Dori, Gomets, Pettiz and Yogurte 100 in Brazil.
Ferrara’s innovation success has been driven by deep consumer insights, strong retailer co-creation and partnerships, and a dedication to diversity of thought, experience, and people. A privately held company, Ferrara has its global headquarters in Chicago and an operational network of more than 27 locations in North America, Brazil and China that includes manufacturing, distribution, sales, and R&D facilities. Ferrara is a privately held Ferrero related company.
With candy-making roots dating back to 1869, Jelly Belly Candy Company began making Jelly Belly jelly beans in 1976. Today, Jelly Belly confections are sold all over the world and the company has remained family-owned and operated by the fourth, fifth, and sixth generations of the candy-making family.
For more news of interest to the confectionary industry, subscribe to Gourmet News.
Southern Glazer’s Promotes Executives; Arizona Exec Retires
Southern Glazer’s Wine & Spirits has made enhancements to National Accounts, Customer and Trade Development, National Retail Sales, Center of Excellence and eCommerce functional units. These teams continue to evolve under the National Accounts umbrella, enabling Southern Glazer’s to remain the strategic thought partner to grow these categories and gain market share.
In addition, Tom Boyle, executive vice president and general manager of Arizona, will retire effective at the end of 2023.
“Southern Glazer’s National Accounts team’s vision is to be an indispensable and trusted partner to the company’s valued customers and deliver excellence to associated buyers, suppliers, and market teams,” said Chris Williams, executive vice president, National Accounts. “This enhanced structure enables us to provide an even more collaborative and comprehensive level of service to our partners.”
Customer and Trade Development
- Ryan Sass has been promoted to vice president, Customer and Trade Development, for National Retail Sales and On Premise. In his new role, Sass will drive supplier relations and closely manage the Company’s NRS business with the support of Customer Development category experts. Sass will report to Chris Williams.
eCommerce
- Robyne Eldridge has been appointed vice president, Omni Channel Development.She will continue to lead B2C deliverables for digital first, eCommerce Business Priorities development and supplier integration. Reporting to Eldridge will beSam Raia, senior director, Omni Channel Development;DarShanna Smith senior director, Amazon; Sarah Twitchell, director, Liquor Channel;Brennan Duke, director,(Mass/Club/Drug); and Jennifer Bailein, director, Grocery. Eldridge will report to Chris Williams.
National Retail Sales (NRS)
- JR Allen has been promoted to vice president, NRS Commercial Operations. In his new role, he will work directly with each region’s Senior Vice President, Commercial Operations, with a focus on forecasting, inventory and execution. He will report to Scott Moore, senior vice president, National Accounts Off Premise.
- Nicole Nottinghamhas been appointed to senior director, GoBrands. She will strengthen and foster national strategy and connect with NRS supplier planning process Customer Business Priorities. She will report to Scott Moore.
Center of Excellence (COE)
- Adam Byrne has been appointed vice president, Customer Planning and Development COE. The COE will focus on “Elevate,” the company’s program that offers customers branded merchandising recommendations, large and small format channel development and Southern Glazer’s unique suite of Retail Joint Business Planning process and tools. Byrne recently joined the company and will report to Chris Williams.
Boyle is a longtime Southern Glazer’s employee.
“During his 40-year tenure, Tom has made a tremendous positive impact on the success of the company, as well as the professional success of our employees,” said John Wittig, chief commercial officer. “His best-in-class leadership has made him a role model in Arizona and beyond. We’ll miss him greatly and will forever appreciate his many contributions to the company.”
“Tom’s exceptional dedication to fostering a workplace culture where authenticity thrives has been a true cornerstone of Arizona’s success,” commented Patrick Daul, president, West Region. “In addition to this, his commitment to innovation transformed the market into a hub for pioneering pilot programs, from industry-leading electric vehicle testing to the introduction of a unique convenience store concept. These contributions have positioned us at the forefront of progress, leaving an indelible mark for years to come.”
In 1983, Boyle began his career in beverage alcohol as a salesperson for Southern Wine and Spirits in San Diego. After years of hard work expanding the company’s supplier portfolio, Boyle was promoted to on-premise division manager in 1989. Shortly after, Boyle led Southern Wine and Spirits in entering its fourth market in Arizona, where he served as Southern Arizona branch manager.
After helping lead significant growth for the business and working in roles of increasing responsibility, Boyle accepted the position of general sales manager of Arizona and spent the next 18 years working alongside Michael Jahn and the Arizona team to make Southern Wine and Spirits the number one distributor in Arizona. Upon Jahn’s retirement in 2019, Boyle stepped into his most recent role as executive vice president and general manager of Arizona.
“As Tom embarks on a new chapter in life, we express our deep appreciation for his service and wish him a retirement filled with much happiness and health,” said Wayne E. Chaplin, chief executive officer. “His legacy will continue to inspire us, and his presence will be missed.”
An announcement for Boyle’s replacement will be forthcoming. Boyle will remain on the team to ensure a seamless transition and support the leader who will be replacing him.
For more news of interest to the food and beverage industry, subscribe to Gourmet News.
Costco’s Jelinek Stepping Down, Vachris Promoted
Craig Jelinek has confirmed his intention to step down as chief executive officer of Costco Wholesale Corporation, effective Jan. 1. The board of directors has elected Ron Vachris, president and chief operating officer since February 2022, as president and chief executive officer, effective Jan. 1. Jelinek and Vachris have worked hand in hand over the last 21 months in Vachris’s role as president and for many years before that. This is the culmination of the long-standing succession plan that Jelinek has discussed with the board.
Vachris is a Costco veteran, with over 40 years of service to the company, starting as a forklift driver, and subsequently serving in every major role related to Costco’s business operations and merchandising activities.
“Costco has a very strong culture and a deep bench of management talent,” said Jelinek. “I have total confidence in Ron and feel that we are fortunate as a company to have an executive of his caliber to succeed me.”
Jelinek will remain with Costco through April, serving in an advisory role and assisting Vachris during the transition. Jelinek will also continue to serve on the board of directors and will stand for reelection at the January annual meeting.
The company announced that its board of directors has declared a quarterly cash dividend on Costco common stock of $1.02 per share. The quarterly dividend is payable Nov. 17 to shareholders of record at the close of business on Nov. 3.
Costco operates 861 warehouses, including 591 in the United States and Puerto Rico, 107 in Canada, 40 in Mexico, 33 in Japan, 29 in the United Kingdom, 18 in Korea, 15 in Australia, 14 in Taiwan, five in China, four in Spain, two in France, and one each in Iceland, New Zealand and Sweden. Costco also operates e-commerce sites in the United States, Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan and Australia.
For more news of interest to the grocery industry, subscribe to Gourmet News.
