Start-up to retain current management and employee structure at Ireland headquarters
European chocolate behemoth Ferrero has acquired Dublin-based protein bar business Fulfil Nutrition for an undisclosed amount.
As part of the deal, Ferrero will retain Fulfil’s current management and employee structure, as well as its distribution efforts.
In a statement the company said it would help continue to build the Fulfil brand and support its expansion into new markets and category segments.
Ferrero expects the deal to help it expand into the ‘better-for-you’ market segment and keep up with shifting consumer trends.
At present Fulfil’s products are available in the UK, Ireland Europe, Asia and the US. At the end of 2021 the company reported it had sold 150 million bars since its inception in 2016.
In its 2020 full-year financial filings on Companies House, Fulfil reported it had nine full-time employees.
As of 31 December 2020 the company had £2.36 million in assets, while also reporting an operating loss of £1.4 million, due to continued investment in growing the brand.
At the time, Fulfil directors said its performance had also been impacted by ongoing covid restrictions.
The deal is expected to close in the next few months.
Last June Ferrero acquired UK biscuit leader, Burton’s Biscuit Company, from the Ontario Teachers’ Pension Plan Board.
Date published: 27 April 2022