Ferrero, one of the largest confectionery companies in the world has entered into a definitive agreement to acquire majority stake in Spain’s Ice Cream Factory Comaker (ICFC). ICFC is a global food company which specialises in the manufacturing and development of ice creams with over 55 years of experience in the industry. With headquarters in Valencia, the company is currently present in more than 15 countries including the UK, France, Italy and Australia. The transaction is expected to be completed by this month July 2019.
ICFC is one of the leading ice cream producers in Spain. Previously owned by the Swiss food group Nestle, it was sold to Guillermo Lamsfus Bravo February 2003. Guillermo Lamsfus will continue to lead the company and remain as the managing director. The Lamsfus family will remain as a shareholder of ICFC.
Ferrero commented “As part of Ferrero’s commitment to meet the needs of consumers, Ferrero is constantly evaluating new opportunities in different product categories.” As one of the market leaders in sweets market worldwide Ferrero has a consolidated turnover of more than €10.7bn. The company employs more than 40,000 and has production plants in various countries around the world. Ferrero produces brands such as Nutella, Ferrero Rocher, Tic Tac, Kinder Joy, Kinder Chocolate and Rafaello which are sold in more than 170 countries. With this deal Ferrero expands its market reach into Spain.