Ferrero’s Ferrara Candy Co. May Acquire Europe’s CPK Group

Ferrara Candy Co., the U.S. sugar candy business of Ferrero Group, though its European holding company has begun “exclusive discussions” to acquire CPK Group, a French manufacturer and distributor of candies and chocolates, from Eurazeo, a global investment group.

Price was not disclosed. The likely deal was announced July 11, one day after Ferrara’s parent Ferrero disclosed it’s buying WK Kellog Co. for $3.1 billion.

The planned acquisition would combine CPK’s position in the European confectionary market with Ferrara Candy Co.’s portfolio of sugar confections, such as Nerds, Jelly Belly, SweeTarts and Dori. The deal would “strengthen... Ferrara’s platform for continued growth.” CPK would continue to be operated from France.

CPK was created in 2017 following the acquisition of 14 brands from Mondelez and the combination in 2018 with the company Lamy Lutti. CPK is mainly active in three market segments: candy (with the Carambar, Lutti, Krema, Michoko brands), milk chocolate (with the British brand Terry’s) and French chocolate brands Poulain and 1848.

Upon close of the acquisition, CPK’s more than 900 employees would join Ferrara. CPK currently has French manufacturing holdings in Bondues, Saint-Genest, Strasbourg and Vichy, and all would be acquired by Ferrara’s holding company as part of the transaction.