Ferrero Group Agrees to Acquire BFY Breakfast Company Purely Elizabeth
Ferrero Group has agreed to acquire Boulder, Colo.-based better-for-you breakfast foods company Purely Elizabeth, according to a release. Purely Elizabeth joining Ferrero adds to the global company’s breakfast offerings, which got a huge boost from the $3.1 billion WK Kellogg Co acquisition that closed about 11 months ago. Purely Elizabeth brings a wellness-focused portfolio of granola, oatmeal and cereals, as well as products in the protein segment.
Upon closing, which is expected to occur in the coming months, Ferrero expects to boost Purely Elizabeth’s product innovation and operational capabilities, and expand its distribution. Terms of the deal were not disclosed, and the transaction is subject to customary closing conditions and regulatory approval.
According to Ferrero’s announcement, Purely Elizabeth has more than doubled its sales in the past two years and built a leading position in breakfast and wellness. Ferrero noted that the company will continue to operate as a standalone brand with Purely Elizabeth founder and CEO Elizabeth Stein continuing in her role alongside the existing leadership team.
About the Author
Andy Hanacek
Senior Editor
Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.