Le Mars, Iowa — The company that owns Blue Bunny is to be acquired by an international brand.
The Ferrero Group and Wells Enterprises have announced an agreement for Ferrero to acquire Wells, its operations, and its ice cream brands, which include Blue Bunny®, Blue Ribbon Classics®, Bomb Pop® and Halo Top®. Officials tell us the acquisition is part of Ferrero’s “strategic growth ambitions for the ice cream category and Wells’ vision for accelerated growth.”
They say Ferrero and Wells are both family companies with extensive confectionery and ice cream experience, quality products, proud heritage, and a strong portfolio of well-loved brands.
Ferrero – which started in 1946 as a small pastry shop in Alba, Italy – has grown to become a global leader in sweet-packaged foods, including confectionery, biscuits, ice cream, and better-for-you-snacking. Its brands include Nutella®, Kinder®, Tic Tac® and Ferrero Rocher®.
Wells has become the world’s largest family-owned and managed ice cream company since it was founded in 1913 as a dairy delivery wagon business.
Officials tell us Wells Enterprises will remain a stand-alone business with its offices in Le Mars and production operations in Le Mars; Henderson, Nevada; and Dunkirk, New York. After the transaction closes, Mike Wells, a member of the founding family and current chief executive officer and chief engagement officer, will serve as an adviser to support the transition and maintain his active role in the Le Mars community. Current Wells President Liam Killeen will be named Chief Executive Officer, and the existing leadership team will remain in place.
Giovanni Ferrero, Executive Chairman of the Ferrero Group says that they are committed to a long and successful future, building on Wells’ legacy of fantastic products and looking after the welfare of employees and the wider community in Le Mars.
The transaction, subject to customary closing conditions, is expected to close in early 2023. Terms of the transaction are not being disclosed.
