Ferrero Group Signs Deal to Acquire Purely Elizabeth

Ferrero Group has signed an agreement to acquire Purely Elizabeth, the Boulder, Colorado breakfast brand founded in 2009. Purely Elizabeth offers granola, oatmeal and cereals, and has more than doubled its sales in the past two years. Ferrero said the acquisition is intended to strengthen its presence at the American breakfast table. The proposed transaction is expected to close in the coming months, subject to customary closing conditions and regulatory approvals.

Breakfast Brand Remains Standalone

Purely Elizabeth will continue to operate as a standalone brand within Ferrero Group. Founder and CEO Elizabeth Stein will remain in her role alongside the existing leadership team.

Ferrero intends to support the brand’s product-development pipeline, innovation and distribution while preserving its identity and commitment to quality.

Giovanni Ferrero, President of Ferrero International S.A., holding company of the Ferrero Group, said:

“Purely Elizabeth, with its terrific portfolio of quality, tasty products, is a great addition to Ferrero. With this transaction, Ferrero builds on its recent acquisition of WK Kellogg Co, reinforcing both its presence at breakfast time in America and its reach in the better-for-you segment.”

Portfolio Growth in Breakfast

Ferrero said the acquisition expands its presence in breakfast and better-for-you categories. Its portfolio also includes Eat Natural and FULFIL in Europe, Power Crunch in North America and Bold Snacks in Brazil.

Purely Elizabeth Family Shot.

Purely Elizabeth has expanded more recently into protein products, alongside its portfolio of products containing ingredients such as oats, whole grains, nuts and seeds.

Lapo Civiletti, President of Ferrero Ice Cream and WK Kellogg Co., said:

“We are delighted to welcome Purely Elizabeth to the Ferrero Group. This acquisition reflects our long-term strategy to invest in high-growth categories and further enhance our presence in the better-for-you offerings across breakfast occasions and beyond. Purely Elizabeth has built a distinctive brand by being in tune with evolving consumer preferences through premium, innovative and delicious products, making it a highly complementary addition to our portfolio. We look forward to supporting the brand’s continued growth while preserving the entrepreneurial spirit that has made it successful.”

Elizabeth Stein Founder and CEO of Purely Elizabeth.

Founder Continues Leading Brand

Stein founded Purely Elizabeth in 2009 and will continue leading the business following the transaction.

Elizabeth Stein, Founder and CEO of Purely Elizabeth, said:

“Building Purely Elizabeth from an idea 17 years ago into the brand it is today has been one of the most rewarding journeys of my life, and I’m incredibly proud of what our team has accomplished. As I thought about the next chapter, finding a partner who understood what makes Purely Elizabeth special and shared our commitment to quality, innovation, and building for the long term was incredibly important to me. In Ferrero, we’ve found a family-owned company that believes deeply in what we’ve built and sees the tremendous opportunity still ahead. I couldn’t be more excited to continue leading Purely Elizabeth alongside our team as we bring our mission and products to even more people.”