SUBSCRIBE

Breaking News on Food & Beverage Development - EuropeUS edition | Asian edition

News > Business

Read more breaking news

 

 
News in brief

Ferrero acquires hazelnut supplier Oltan

By Oliver Nieburg+

17-Jul-2014

Ferrero looks to guarantee quality of its hazelnut supply
Ferrero looks to guarantee quality of its hazelnut supply

The world’s biggest hazelnut buyer Ferrero has purchased the world’s largest hazelnut processor The Oltan Group for an undisclosed sum.

The chocolate company said the acquisition would allow it to guarantee and improve the quality of the raw material.

Hazelnuts are one of the Ferrero’s key commodities, which it uses for its signature Ferrero Rocher brand, Nutella and Kinder Bueno.

The Oltan Group, based in Trabzon, Turkey was previously under family-ownership. It has five production facilities exporting to the EU and global markets and has an annual turnover of $500m. Ferrero has acquired 100% of the firm.

Last year, Ferrero opened a $119m plant in Turkey , the world’s premier hazelnut exporter. In 2009, Ferrero was cleared of alleged hazelnut fraud in a case that spanned seven years.

The Oltan deal is subject to regulatory approval.

Live Supplier Webinars

Rethinking Fat Forum
William Reed Business Media

On demand Supplier Webinars

Your future starts at Cargill's T for Trends
Cargill Cocoa & Chocolate
Food testing — let automation take the strain
Qiagen
ETENIA™: Recognize True Milk Value
AVEBE
The FoodNavigator Salt Reduction Forum
William Reed Business Media
All supplier webinars