"We're thrilled to welcome Power Crunch to the Ferrero family and our ever-expanding portfolio of products in the U.S.," says Michael Lindsey, president and chief business officer of Ferrero North America. "The quality craftsmanship and thoughtful investment Ferrero applies to our portfolio has driven our success across categories. We look forward to applying the same formula to the better-for-you category, starting with the distinctive products produced by the exceptional Power Crunch team."

As part of the transaction, Ferrero will take over an office site in Irvine, California, with approximately 50 employees joining the Ferrero Group in North America. 

"Power Crunch joining Ferrero is an amazing opportunity," says Kevin Lawrence, Power Crunch founder and CEO. "The company's commitment to quality and ambitions in the better-for-you snacks category will help bring Power Crunch to more consumers than ever before."

The planned acquisition further supports Ferrero's expansion in the better-for-you product category, following the acquisitions of FULFIL and Eat Natural in Europe. It also is the latest in a series of acquisitions growing Ferrero's footprint in the U.S., following the integration of everyday chocolate brands Butterfinger, Baby Ruth and CRUNCH as well as cookie brands Keebler, Famous Amos and Mother's. Iowa-based ice cream company Wells Enterprises joined Ferrero Group in 2022.

The proposed transaction is expected to close in the coming weeks, subject to customary closing conditions.