"We're thrilled to welcome Bold Snacks to Ferrero, marking our first foray into the better-for-you segment in South America," says Ferrero Group CFO Daniel Martinez Carretero. "Bold Snacks is a distinctive brand with strong momentum in Brazil, and this transaction further strengthens our presence in the category while supporting the continued development of our portfolio across key geographies."

As part of the transaction, Ferrero will take over Bold Snack's office and factory in Divinópolis, Minas Gerais, with approximately 300 employees expected to join Ferrero Brazil.

"Becoming part of Ferrero is an amazing opportunity for our business and our people," says Bold Snacks Founder and CEO Gabriel Ferreira. "Being recognized by a global food leader with a strong track record of building and nurturing iconic brands provides a unique opportunity to accelerate our growth and help bring Bold Snacks to more consumers than ever before."

The planned acquisition adds Bold Snacks to Ferrero Group's growing stable of better-for-you brands such as Eat Natural and FULFIL in Europe and Power Crunch in North America. In Brazil, Ferrero and its affiliated company Dori Alimentos, owned by Ferrara, currently employ 4,500 people across five plants and three offices.

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