DUNKIRK, N.Y. (WKBW) — The Ferrero Group and Wells Enterprises announced an agreement for Ferrero to acquire Wells.
Ferrero said the acquisition is part of its strategic growth ambitions for the ice cream category in addition to Wells’ vision for accelerated growth. According to a release, Wells will remain a stand-alone business and the transaction is expected to close in early 2023.
Ferrero began in 1946 as a small pastry shop in Alba, Italy and has grown to become a global leader in sweet-packaged foods. Its brands include Nutella, Kinder, Tic Tac and Ferrero Rocher.
Wells began in 1913 as a dairy delivery wagon business and has become the world's largest family-owned and managed ice cream company. Its offices are located in Le Mars, Iowa and it has production operations in Le Mars; Henderson, Nevada; and Dunkirk, New York.
According to a WARN notice filed in September, 319 employees will be laid off at Wells Enterprises in Dunkirk beginning on December 31, 2022, or the 14-day period commencing on that date. The notice stated the reason for the layoffs as "economic."
