BYLINE: Esha Vaish and Giancarlo Navach London
THE ITALIAN firm behind Ferrero Rocher chocolates and Nutella spread has agreed to buy British chocolate retailer Thorntons for [pounds]112 million (R2.1 billion), striking a rare deal to expand in Europe's biggest confectionery market.
The deal is the first by family-owned Ferrero International since the death earlier this year of patriarch Michele Ferrero, who was Italy's wealthiest man and largely shied away from acquisitions as he built up a business that also spans Kinder Surprise eggs and Tic Tac mints.
Ferrero said yesterday it would pay 145 pence a share in cash for the 104-year-old Thorntons, a 43 percent premium to the British firm's closing stock price on Friday. …
Yorkshire Evening Post (Leeds, England); June 22, 2015
Belfast Telegraph; June 23, 2015
Coventry Evening Telegraph (England); June 23, 2015
The Irish Times; June 23, 2015
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