At the heart of the global confectionery industry stands an Italian family empire which, under the discreet and determined leadership of Giovanni Ferrero, has conquered the world. From Nutella to Froot Loops cereals, Ferrero's expansion has exceeded all expectations, culminating in the recent acquisition of WK Kellogg for $3.1 billion. But this is only the latest piece in a strategy built with patience, vision, and investment. It is estimated that Ferrero's economic universe is rapidly approaching the extraordinary figure of €25 billion in total revenue.
A global strategy: beyond Nutella
After the death of his father Michele in 2015, Giovanni Ferrero took over the reins of the company, taking it well beyond European borders. In addition to consolidating iconic brands such as Nutella, Ferrero Rocher and Kinder, Giovanni has initiated a radical transformation of the company, steering it towards new segments and markets. The recent acquisition of Kellogg in the United States—following those of Nestlé USA and brands such as Keebler, Famous Amos, and Butterfinger—represents a desire to diversify and strengthen the company's presence in the US food market, going beyond the boundaries of chocolate.
The numbers behind the success
The growth plan has paid off: since 2015, Ferrero's turnover has grown from $11 billion to over $20 billion, with EBITDA reaching $3 billion. Carefully planned acquisitions have enabled the company to increase its influence in at least 9 countries. With WK Kellogg alone, Ferrero expects sales to increase by more than 10% in 2025. This is a tangible sign of targeted, organic, and inorganic expansion that shows no signs of slowing down.
The American conquest pushes revenues to new heights
Ferrero's aggressive acquisition strategy has radically transformed the group's geographical center of gravity, with the United States becoming the driving force, now generating half of Ferrero International's turnover. With the imminent finalization of its latest acquisition in Michigan – although still subject to US regulatory approval – the confectionery giant's total revenues are set to rise from the current €18.4 billion to around €21 billion, as reported by Corriere in this article.
It is estimated that the Ferrero family has invested around €11 billion in the US market. This massive commitment has led to the creation of a vast infrastructure: following its latest strategic move, the Italian group now has 14,000 employees overseas, with production capacity spread across 22 factories and supported by 11 administrative offices. But Ferrero's expansion does not stop at the US border. When Cth, the Belgian holding company that acts as an additional arm for the group's acquisitions, is included in the calculation, the revenue picture is enriched by another €3 billion. This entity has incorporated leading brands such as Ferrara, the British Fox's biscuits and Burton's biscuits, and the Fine Biscuits Company, which brings together well-known names such as Delacre, Deliciock, and Kelsen in Belgium and Denmark. Adding all these components together, Ferrero's economic universe is rapidly approaching the extraordinary figure of €25 billion in total turnover, according to estimates by Corriere here.
Giovanni Ferrero: a shy but visionary leader
Despite his enormous wealth—with an estimated net worth of over $41 billion—Giovanni Ferrero is known for his discretion. He lives in Brussels, far from the spotlight, while the company's headquarters are located in Luxembourg. After studying marketing in Pennsylvania and sharing the leadership of the company with his brother Pietro (who passed away in 2011) for many years, Giovanni embarked on a solitary path of thoughtful choices, smart investments, and long-term vision. In 2016, he created CTH Invest, a Belgian holding company dedicated to acquisitions, and appointed Lapo Civiletti as CEO, the first person outside the family to lead the group. This was a momentous change for a traditionally family-run company.
The race to become a food giant
Ferrero is now a direct competitor to giants such as Mars and Mondelez. The acquisition of WK Kellogg further strengthens its bargaining power in the US market, especially in the cereal sector, which is worth $12 billion a year. Mars, with $21.3 billion in snack sales, is still ahead, but Ferrero is in the running. And with a global food market worth $620 billion, there is no shortage of opportunities.
Global challenges: tariffs, costs, and regulations
Not everything is smooth sailing in the confectionery empire. Ferrero faces challenges related to international tariffs, record cocoa price increases, and growing concern about artificial ingredients. The United States, one of the group's main markets, is starting to pay more attention to colorants and refined sugars. In response, the company has begun to diversify its agricultural supply chain and invest in sustainability, as demonstrated by the research grants funded in Oregon for the development of hazelnut cultivation.
Towards global leadership
With over 84% revenue growth over the last seven years, Ferrero is on track to double in size by 2025, staying true to Giovanni Ferrero's plan. The entrepreneur has always believed that a few players would share leadership in the global confectionery industry — and today, his group is closer than ever to that goal.
An Italian model for the world
Ferrero's rise is much more than an economic success story: it is a symbol of Italian manufacturing that has been able to reinvent itself, combining tradition and strategic vision. Under the quiet but decisive leadership of Giovanni Ferrero, the group has become a global benchmark, maintaining its Italian identity and bringing it to the tables of millions of consumers around the world.
