Ferrero SpA

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Ferrero S.p.A.
Type Società per Azioni (joint-stock company)
Industry Food
Founded 1946
Founders Pietro Ferrero
Headquarters Alba, Piedmont, Italy
Key people Giovanni Ferrero, Acting Chairman, CEO
Products Confectionery
Revenue Increase 7.7 billion (fiscal year 2011-2012)
Operating income €856 million (FY 2010-2011)
Employees 22,298 (FY 2011-2012)
Website www.ferrero.com

Ferrero SpA (Italian pronunciation: [ferˈrɛːro]) is an Italian manufacturer of chocolate and other confectionery products. It was founded by confectioner Pietro Ferrero in 1946 in Alba, Piedmont, Italy. The company saw a period of tremendous growth and success under Pietro's son Michele Ferrero, who in turn handed over the daily operations to his sons. His son Pietro (the founder's grandson), who oversaw global business, died on April 18, 2011, in a cycling accident in South Africa at the age of 47. Reputation Institute's 2009 survey ranks Ferrero as the most reputable company in the world.[1] Ferrero SpA is a private company owned by the Ferrero family and has been described as "one of the world's most secretive firms".[2][3] The Ferrero Group worldwide – now headed by CEO Giovanni Ferrero – includes 38 trading companies, 18 factories and approximately 21,500 employees. Ferrero International SA's headquarters is in Luxembourg. Its German factory is the largest of all and Pasquale Giorgio is its current CEO. In July 2013, Ferrero entered Myanmar markets, being granted permission to distribute its products locally.[4]

History[edit]

Ferrero Headquarter, Pino Torinese, Italy

In 1946, Pietro Ferrero invented a cream of hazelnuts and cocoa, derived from Gianduja and called it "Giandujot", or Pasta Gianduja. The initial product came in solid loaves wrapped in aluminium foil, which had to be sliced with a knife, and was succeeded by a spreadable version Supercrema.[5]

With assistance from his brother Giovanni, Pietro Ferrero created his new company to produce and market the initial product.[6] Following his work, Pietro was succeeded by his son Michele Ferrero as chief executive. Michele and his wife Maria Franca relaunched his father's recipe as Nutella, which was first sold in 1964 and has since become the world's leading chocolate-nut spread brand.[7] The company is currently run by Giovanni Ferrero, grandson of Pietro and son to Michele Ferrero.[8]

The company places great emphasis on secrecy, reportedly to guard against industrial espionage.[2] It has never held a press conference and does not allow media visits to its plants. Ferrero's products are made with machines designed by an in-house engineering department.[2]

Products[edit]

Jar of Nutella

In addition to Nutella, Ferrero produces many other products including Ferrero Rocher, Pocket Coffee, Mon Chéri, Giotto, Confetteria Raffaello coconut cream candy, Hanuta chocolate hazelnut-filled wafers, the Kinder line of products, as well as the Tic Tac breath mints. A dark chocolate version of the Ferrero Rocher is also available, called the Ferrero Rondnoir, which contains a pearl of dark chocolate in the center instead of a hazelnut, chocolate cream instead of hazelnut cream and crunchy chocolate bits instead of crushed hazelnuts. There is also a coconut version, Confetteria Raffaello, which contains coconut cream surrounding an almond and covered with meringue and shredded coconut. The Ferrero Prestige collection is a set of three pralines: Rocher, Rondnoir, and a coconut version called Garden Coco. The Garden Coco candy is similar to the Confetteria Raffaello, but has milk cream instead of coconut cream.

Ferrero also produces the Kinder product series, including Kinder Surprise or Kinder Sorpresa in Italian (also known as "Kinder Eggs"), Fiesta Ferrero, Kinder Chocolate bars, Kinder Happy Hippo, Kinder Maxi, Kinder Duplo, Kinder Délice, and Kinder Bueno.

In 2011 Ferrero introduced a line of frozen products called "Gran Soleil". It is a shelf-stable frozen dessert which has to be shaken, and if left overnight in the freezer, can be eaten as a sorbet. The company received an innovation award for the product in March 2011.[9]

In September 2013 Ferrero gained Vegetarian Society approved status in the UK for a number of leading brands including Nutella and Ferrero Rocher.[10]

Philanthrophy[edit]

In 1983, the Ferrero Foundation was established in Alba, Piedmont at the wish of Michele Ferrero. The foundation promotes activities in the areas of art, science, history and literature by organizing conventions, conferences, seminars and exhibitions. It also offers health and social assistance to ex-employees of the group for at least 25 years.[11]

References[edit]

  1. ^ Klaus Kneale (May 6, 2009). "World's Most Reputable Companies: The Rankings". Forbes. 
  2. ^ a b c Hooper, John (2 July 2010). "Italy's meltdown over EU Nutella ban that never was". The Guardian. Retrieved 3 July 2010. 
  3. ^ Ilan Brat; Jeffrey McCracken; Dana Cimilluca (November 9, 2009). "Hershey Plots Cadbury Bid". The Wall Street Journal. "[Ferrero] is known for the secrecy with which it guards its chocolate recipes and its management decisions." 
  4. ^ Maierbrugger, Arno (26 July 2013). "Ferrero sweetens Myanmar retail scene". Inside Investor. Retrieved 26 July 2013. 
  5. ^ http://www.bbc.co.uk/news/magazine-27438001
  6. ^ http://www.ferrero.com/the-group/a-family-history/a-great-company/
  7. ^ http://www.bbc.co.uk/news/magazine-27438001
  8. ^ http://www.ferrero.com/the-group/a-family-history/a-great-company/
  9. ^ "Ferrero Gran Soleil receives the "Excellence in Innovation" Award". Ferrero. Retrieved 2012-03-21. 
  10. ^ https://www.vegsoc.org/vs-pages/vs-home/press/press-releases/nutella-
  11. ^ Foundation

External links[edit]