Ferrero Group to Acquire Better-for-You Breakfast Brand Purely Elizabeth

Ferrero Group announced that it has signed an agreement to purchase Purely Elizabeth, a better-for-you food company specializing in granola, oatmeal, cereals, and, more recently, protein products. Ferrero intends to support Purely Elizabeth’s next phase of growth in product innovation and the expansion of operations and distribution.

The Boulder, Colorado-based brand was founded in 2009 and has more than doubled its sales in the past two years.

“Purely Elizabeth, with its terrific portfolio of quality, tasty products, is a great addition to Ferrero,” said Giovanni Ferrero, president of Ferrero International SA. “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.”

“We are delighted to welcome Purely Elizabeth to the Ferrero Group,” said Lapo Civiletti, president of Ferrero Ice Cream and WK Kellogg Co. “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.”

“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,” said Elizabeth Stein, founder and CEO of Purely Elizabeth. “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.”

The company will continue operating as a standalone brand within the Ferrero Group with Stein and the existing leadership team.

Along with the recent acquisition of WK Kellogg Co, Ferrero Group has been investing in several better-for-you categories, such as Ear Natural and Fulfil in Europe, Power Crunch in North America, and Bold Snacks in Brazil.