Entrepreneur and grandson of the founder, Giovanni Ferrero is executive president of the company which owns more than 35 brands
Summary
Ferrero is an Italian chocolate and confectionery company founded in 1946, with more than 35 brands, selling its products in more than 170 countries around the world and becoming one of the largest companies in the industry. In Brazil, present since 1994, it opened a factory in Poços de Caldas, Minas Gerais.
With different offerings and flavors, the Kinder Ovo, Nutella and Tic Tac brands have more in common than many imagine when they see them on the shelves. This is because the products are part of the Ferrero group, which has become a real empire worth billions.
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Of Italian origin, the company is led by the entrepreneur and grandson of the founder, Giovanni Ferrero, who owns a assets estimated at 40.2 billion dollars, approximately R$ 202 billionat the current price.
Second Forbes, in 2023, the executive president of Ferrero ranked 30th in the ranking of the richest people in the world. In addition to his dedication to the family business, the entrepreneur is also a novelist and has published numerous books.
However, the focus here is on the sweet part, as Ferrero is considered one of the largest and best-known companies in the confectionery and chocolate industry in the world. See some highlights:
- The group recorded revenues of $15 billion (around R$75 billion) in 2022;
- In 2018, Ferrero bought Nestlé’s entire confectionery business in the United States for $2.8 billion (more than R$14 billion);
- In Brazil, present for three decades, Ferrero has become the third largest company in the country’s chocolate sector, with a production unit in Poços de Caldas, in Minas Gerais, still second Forbes.
But it wasn’t always like this
In 1946, the company began as a small family-run bakery in the city of Alba, Italy. During this time, brothers Pietro and Giovanni Ferrero worked together to create the products that would define the company.
Pietro, grandfather of the current Ferrero president, was responsible for starting the search for innovation and creativity in the business world. Friends called him “the scientist” because of his work finding new flavors and textures in sweets. His brother Giovanni took care of the commercial strategy, helping to create a national sales network so that the creations were presented and known throughout Italy.
Growth
Currently, with more than 35 brands in the group, Ferrero was the first Italian manufacturer after the Second World War to open factories and offices abroad in the confectionery sector, transforming the company into a multinational.
In this context, international expansion began as early as 1956, with the opening of a large factory in Germany. So, France was chosen to receive a new installation. With this, growth was inevitable and followed that of other countries in Europe, North and South America, Africa, Australia and Southeast Asia. Ferrero products are sold in more than 170 countries.
In addition to territorial expansion, Ferrero has expanded its catalog of brands and invested in new products, including Thorntons, Fannie May, Butterfinger, Eat Natural and ice cream maker Wells Enterprises.
“Tradition is like a bow. The more we tighten the string, the further we can shoot the arrows of modernity and innovation”, stated the executive president, Giovanni Ferrero, in a text published in 2018.
Hazelnut time
Based on the idea of a family business, now in its third generation, Ferrero stands out on the market by bringing new innovations, but without forgetting the icons that have consolidated the group.
Created in 1964, Nutella is one of the group’s most famous products. Formulated by Pietro Ferrero, the hazelnut cream was born amid the uncertainties and shortages caused by the Second World War. Given the high value of chocolate, the hazelnut experiment became a viable possibility., since the fruits were abundant in the Alba area. For the recipe Pietro needed little cocoa and, thus, he could exploit the nutritional potential and flavor of the hazelnuts. At the time the creation was called Super Crema.
After five years, Ferrero revolutionizes the sweets market with the creation of Tic Tac. Initially, mints were called “Refreshing Mints”. The name change came just a year later and was inspired by the noise the box makes when opened and closed.
Kinder Egg, created in 1974, draws inspiration from the tradition of chocolate eggs offered at Easter and from children’s love for games of this period, such as egg hunting.
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Source: Terra
Ben Stock is a lifestyle journalist and author at Gossipify. He writes about topics such as health, wellness, travel, food and home decor. He provides practical advice and inspiration to improve well-being, keeps readers up to date with latest lifestyle news and trends, known for his engaging writing style, in-depth analysis and unique perspectives.
