Ferrara Candy Company set to acquire Jelly Belly Candy: A sweet merger ahead

In a move set to reshape the candy market, Ferrara Candy Company disclosed its agreement to acquire the world-renowned Jelly Belly Candy Company via its lead holding entity, CTH Invest. While the financial details remain undisclosed, this union promises to merge the rich legacy of Jelly Belly, established in 1869, with Ferrara’s expansive sugar candy portfolio.

Jelly Belly’s Deep-Rooted Legacy and Global Presence

Originating in Illinois in 1869, Jelly Belly Candy Company stands as an emblem of candy-making heritage, managed by the fourth to sixth generations of the Rowland family. The brand’s hallmark, the Jelly Belly® jelly beans, introduced in 1976, has been a global favorite. Besides its iconic jelly beans, the brand offers an expansive range of candies, with specialized lines like BeanBoozled and Sport Beans Energizing jelly beans. With a distribution network spanning over 60 countries, Jelly Belly’s sustained growth is undeniable.

Ferrara’s Legacy and Vision for the Sugar Confectionery Market

With its headquarters in Chicago for over 115 years, Ferrara is a dominant figure in the U.S. sugar confections realm. Their brand assortment includes favorites such as Black Forest®, NERDS®, SweeTARTS, and Trolli. Being a Ferrero affiliated company, Ferrara embodies a legacy intertwined with quality and innovation.

Stakeholders Weigh In on the Merger

Herman Rowland, Sr., Chairman of the Board of Directors of Jelly Belly, expressed confidence in the merger, noting Ferrara’s shared passion for the candy business. Lisa Brasher, CEO of Jelly Belly, echoed similar sentiments, emphasizing the brand’s focus on innovation and the value that Ferrara sees in their legacy. Marco Capurso, CEO of Ferrara, highlighted the alignment of both companies’ dedication to quality and customer service.

Next Steps and Legal Aspects of the Merger

The acquisition is anticipated to conclude by the end of 2023, contingent upon certain closing conditions. In this transaction, Raymond James played the exclusive financial advisor role for Jelly Belly, with Foley & Lardner LLP and Davis Polk & Wardwell LLP serving as legal counsel for Jelly Belly and Ferrara Candy Company, respectively.