Ferrara Candy Company, a Ferrero related company and the largest sugar confections company in the U.S., has agreed to acquire Dori Alimentos, one of Brazil’s leading manufacturers and distributors of sweets and snacks.
The acquisition will be made through CTH, which is the lead holding company of Ferrara. Dori is a family-controlled company backed by an affiliate of ACONInvestments. Financial terms of the transaction were not disclosed.
Since its founding in 1967, Dori has built strong and recognized brands that are loved by millions of consumers across Brazil including Dori, Pettiz, Jubes, Gomets, Deliket, Disqueti, Yogurte 100, and Bolete. Dori’s strong portfolio, consistent performance and multi-channel nationwide distribution capabilities have allowed it to enjoy double-digit revenue growth over the last several years.
Headquartered in Chicago for more than 115 years and privately owned, Ferrara is the top-selling U.S. sugar confections company and the manufacturer of 20 beloved brands such as Black Forest®, Brach’s®, NERDS®, SweeTARTS®, and Trolli®.
“We are thrilled to join Ferrara, who we are confident is the right partner for this next step of Dori’s incredible story,” said Pedro Lobo, Chief Executive Officer of Dori. “Like us, Ferrara puts the consumer at the center of all they do, shares our spirit of innovation and believes in the emotional power of candies and snacks. This pairing reflects the outstanding company that the Dori team has built over fifty-six years and our standing as industry pioneers in Brazil. We are thrilled to preserve that valued heritage.”
“Dori is a great fit with Ferrara, with a complementary portfolio of candies, similar heritage and a values-driven internal culture,” said Marco Capurso, Chief Executive Officer of Ferrara. “We have deep admiration for Dori’s products and extraordinary team. We are excited to enter the fast-growing Brazilian market and create tremendous opportunity ahead for both Dori and Ferrara.”
“For many years, Ferrara has been a great inspiration for building Dori’s product portfolio and, perhaps because of this, they are similar and aligned companies. I am happy to see that Dori will be instrumental to the official expansion of Ferrara into Brazil, which will certainly provide the best path for the success of the business we have built,” said Vitor Barion, Chairman of the Board of Directors of Dori.
“We have seen Dori evolve tremendously since our initial investment in 2016 and are excited for Dori to be embarking on a new phase in its history. We believe that Dori and Ferrara will form a strong partnership that will create value for all stakeholders,” said Rodrigo Galvão, partner at ACON Investments in Brazil.
Once the transaction is closed, Dori’s over 3,100 employees will join Ferrara’s 4,600 team members to advance a shared vision and strategy and bring additional sweetness to consumers around the world.
The transaction is expected to close in the fourth quarter of 2023 and is subject to certain closing conditions.