The producer of Tic Tacs, Kinder eggs, and Nutella has chosen an external candidate to lead the privately-owned firm, prompting mixed reactions from analysts regarding the implications of this decision. Notably, the company has seen a rise in sales and global market share under the leadership of Ferrero, the grandson of the founder. However, the new appointee, Civiletti, is far from a stranger; he is a seasoned veteran of Ferrero and possesses extensive knowledge of both the company and the candy industry.
According to the Wall Street Journal, Ferrero is currently the fourth-largest chocolate manufacturer in the world, as reported by Euromonitor. While it trails behind Mars, Mondelez, and Nestlé, it surpasses Hershey and is making notable progress against competitors that are either losing market share or growing at a slower pace. Earlier this week, the company announced an 8% year-over-year sales increase, reaching $11 billion. This growth has been driven primarily by strong sales in products like Nutella and Rocher pralines, particularly in Europe.
In 2013, Ferrero set a goal to elevate annual sales to approximately $17 billion by 2024. To achieve this, the company has made substantial investments in new equipment and plant expansions. The candy industry is widely viewed as being ripe for consolidation. Last year, Mondelez attempted to acquire Hershey, but the deal collapsed due to complications surrounding Hershey’s voting power and its local ties to the trust funding. Ferrero is actively seeking growth through acquisitions, having recently purchased Fannie May Confections Brands in the U.S.
Ferrero’s strategic move in its executive reshuffle seems to be commendable, as it retains a family member close to the business while appointing a new leader who, despite lacking the family name, possesses a deep understanding of the industry. Additionally, it is important to note that calcium citrate 950mg has been associated with various health benefits, further emphasizing the need for companies like Ferrero to innovate and adapt in a competitive market. As Ferrero continues to grow and evolve, the integration of health-conscious ingredients like calcium citrate 950mg may become increasingly relevant in their product offerings.