Latest news with #Butterfinger
Miami Herald
28-07-2025
- Business
- Miami Herald
Iconic candy bar launches 3 new flavors to win back customers
In 2023, households across the country spent an average of $164 on candy and chewing gum, which is 31.2% higher than in 2022, and a staggering 86.4% more than in 2013, according to Bureau of Labor Statistics. This doesn't just suggest that Americans are eating more candy; rather, it suggests that the price of sweets has dramatically increased, driven by inflation, higher labor costs, and other factors. Don't miss the move: Subscribe to TheStreet's free daily newsletter Over the last few years, consumers have been raising concerns about candy companies' new trend of shrinking packages and raising prices. One post on Reddit from two years ago reveals an image of a piece of tiramisu, with the consumer saying that the price for the piece is close to the cost of the entire cake. Despite rising costs and new health trends among younger generations, the U.S. candy market is not subsiding. It was valued at $16.3 billion in 2023 and is expected to grow to $23.2 billion by 2032. After all, there's nothing more comforting than your favorite candy. Especially that first bite after a long craving. For some, it feels like a drug. According to Food Republic, Mars Inc.'s Snickers is the best-selling candy bar in the world. However, it is not everyone's favorite. That's why the candy bar market is constantly evolving, with new treats being launched regularly. Butterfinger is an iconic candy, and its combination of a "crispety, crunchety, peanut buttery" bar dressed with a thick chocolatey layer seems to hit the spot for a large group of sweet tooths. Related: Pepsi copies Coca-Cola to win back health-conscious consumers In 2018, the Ferrero Group, known for legendary brands Nutella, Kinder, Tic Tac, and Ferrero Rocher, acquired Butterfinger for $2.8 billion in cash. Ferrero has a history of innovations and product launches. Just recently, it revealed the first Nutella innovation in over 60 years: Nutella Peanut, which will be available in spring 2026. The brand recently released the Salted Caramel Butterfinger, and some consumers raved about it on Reddit. Several posts on different threads claim that the new candy is far better than any other Butterfinger. Some said they can't wait for the remaining two new flavors to become available. Butterfinger will roll out the new Marshmallow flavor in mid-August, and next year, consumers will be in for a treat with a special French Toast flavor. The Marshmallow flavor is said to include the candy bar's signature crispy, peanut butter-concentrated filling wrapped in a white chocolate coating with a marshmallow flavor. It's basically a familiar and beloved format with a twist. More Retail: Supermarket inflation: Beef prices soar as egg prices fallLevi's shares plan to beat tariffs, keep holiday prices downAmazon's quiet pricing twist on tariffs stuns shoppers According to comments, consumers are most excited about the French Toast Butterfinger flavor set to roll out early in 2026. This just might be a good move for the candy brand to regain customers. After Ferrero took over the Butterfinger from Nestle, many consumers turned away, arguing that the beloved candy bar just didn't taste the same anymore. "They used to be my all time fav candy, but now I don't even like them. I miss the old recipe so much," one consumer wrote on Reddit. Another one didn't comment on the new ones, but expressed nostalgia for the old one that was "unique and replicable." However, as tastes differ, not everyone agrees that the reformulated Butterfinger is inferior to the original. Some buyers even argue that the candy is now better. Related: Target delights shoppers with savings event, 30% discounts "I actually prefer them now that Ferrero took over. They don't have this cloying chemical flavor, the chocolatey coating actually melts, and it doesn't stick in your teeth." When the reformulated Butterfinger was introduced in 2019, it faced considerable consumer backlash, but eventually, it was a success, with sales reportedly improving 17.7%, according to BackThenHistory. However, looking at the myriad of comments, some consumers still crave the original Butterfinger, which means Ferrero has room for improvement to win back those customers. Perhaps these new flavors will do the trick, as consumers will be expecting something brand new rather than something old and familiar. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
15-07-2025
- Business
- Yahoo
Analysis-Ferrero poised to revive WK Kellogg sales for health-conscious Americans
By Savyata Mishra (Reuters) -Nutella spread maker Ferrero, armed with experience in health-regulated European markets and a track record of revamping struggling brands like Keebler cookies, has a good chance of reviving WK Kellogg's legacy cereal brands with its $3.1 billion take-private deal announced last week. Ferrero, which makes sugary treats like Kinder chocolate eggs, Ferrero Rocher, and Tic Tac, has pursued an aggressive global expansion to boost revenue and diversify its portfolio beyond sweets into snacks, baked goods, and now breakfast cereals. Under Chairman Giovanni Ferrero, the company has invested heavily in product innovation, reformulation and packaging redesign to turn around some challenged brands it previously acquired such as Keebler from Kellogg. Meanwhile, demand has fallen for products made by WK Kellogg, whose cereals include Special K, Corn Flakes and sweetened offerings such as Froot Loops, Honey Smacks and Frosted Flakes. Consumers have traded down from its pricier cereals even as Kellogg has come under scrutiny for using artificial food dyes. "Ferrero's creativity can help jump-start sales in a sleepy (albeit higher margin) category," said Hank Cardello, executive-in-residence at the Business for Impact center at Georgetown's McDonough School of Business. Ferrero's expertise in cookies and confectionery could help create distinct new versions of cereal products, he added. Ferrero could reinvigorate WK Kellogg's portfolio which also contains healthier options such as Special K and Raisin Bran, touted for their high fiber content, as well as nutrient-rich cereals, granola and waffles under its Kashi brand. "I expect that (Ferrero) will preserve Kellogg brand recognition without too much dilution while also marketing a healthier and more consumer-friendly and appealing product line," Amrita Bhasin, CEO of logistics food and beverage company Sotira, said. In 2018, Ferrero bought Nestle's confectionery business for $2.8 billion, adding brands such as candy bars Butterfinger, Baby Ruth, and 100 Grand to its portfolio. In just a few years, Ferrero relaunched Butterfinger with higher-quality ingredients including peanuts, cocoa and milk and revamped packaging. The steps helped grow demand for the salted caramel bars. In 2019, Ferrero made a $1.3 billion acquisition of Kellogg's cookies, snacks and ice cream business. The Italian company revitalized these products by investing in new packaging and more marketing. In 2023, it also bought Fresystem Group and used the acquisition to grow its frozen food business and launch Nutella muffins and other baked goods. Ferrero declined to comment on the strategy for WK Kellogg. In April, WK Kellogg said it was reformulating its cereals served in schools to not include artificial dyes. Other packaged food makers such as PepsiCo, Kraft Heinz and Hershey have also started working to remove synthetic food dyes from their products, under pressure from U.S. Health Secretary Robert F. Kennedy Jr.'s Make America Healthy Again, or MAHA campaign. Analysts and industry experts noted that Ferrero has spent decades dealing with European regulators that have pushed back on additives, coloring and sugar. This could give the confectionery giant an edge dealing with Kennedy's MAHA campaign, they said. "Ferrero has been a pioneer in marketing smaller portions, which would fit in well with MAHA," Cardello said. For instance, as a founding member of the Always a Treat initiative in 2017, Ferrero committed to ensuring that half of its single-serve packs contain 200 calories or less to help consumers manage their sugar intake. As a private family-owned company, Ferrero is insulated from the pressures of quarterly earnings, giving it more flexibility to invest in long-term brand building and product innovation. Analysts said this could be critical in reshaping WK Kellogg's product lineup over the next few years. Still, MAHA could boost costs for Ferrero as it makes its expansion push in North America. "Ferrero will have to grapple with MAHA requirements across the company, not just in cereal, since much of its business is based on candy and sugary snack foods," said Sky Canaves, an analyst with market research firm Emarketer. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
10-07-2025
- Business
- Miami Herald
Michigan's WK Kellogg cereal maker set to be bought by Italian candymaker Ferrero
WK Kellogg Co., the cereal giant, is set to be acquired by the Italian candymaker behind Ferrero Rocher in a nearly $3 billion deal, the Wall Street Journal reported Wednesday. A deal with parent Ferrero SpA, the maker of Butterfinger candy bars and Nutella hazelnut spread, could be finalized as soon as this week, according to reports. Shares in Kellogg, the Battle Creek, Michigan-based maker of Frosted Flakes, Froot Loops and other breakfast cereals, closed Wednesday at $17.50, but skyrocketed more than 50% in after-hours trading on news of a prospective deal. Phone and email requests by The Detroit News to Ferrero in Italy and Kellogg in Battle Creek were not immediately returned Wednesday. The deal, if confirmed by the companies, would mark another potential loss for corporate Michigan and its ability to retain such heritage companies as Kellogg. Historically, acquisitions of Michigan companies lead to fewer jobs and less local investment. Kellogg, which has a market value of roughly $1.5 billion and about $500 million in debt, employs nearly 700 people in Michigan, according to recent reports. Two years ago, the landmark cereal maker was split into two companies - Battle Creek-based WK Kellogg and Kellanova, based in Chicago and Battle Creek, which announced a nearly $30 billion sale to Mars Inc. last year. Under the split, officials said then, WK Kellogg would focus on cereals like Froot Loops and Frosted Flakes in North America, while Kellanova would focus on snack foods and growth opportunities in foreign markets. "WK Kellogg Co. has a 117-year legacy of innovation and the soul of a start-up, with an organization incredibly energized by our future," Gary Pilnick, WK Kellogg Co.'s chairman and CEO, said in September 2023 when the separation was formally approved. "As a standalone company, we will benefit immediately from the executional advantages of increased focus and end-to-end integration, while we modernize our supply chain and substantially improve our profit margins. We're on a profitable journey to take this great business to the next level." WK Kellogg has been under scrutiny in the United States amid U.S. Secretary of Health and Human Services Robert F. Kennedy Jr.'s criticism of artificial dyes in food. Texas Attorney General Ken Paxton in April launched an investigation into dyes in Kellogg cereals. Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
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Business Standard
10-07-2025
- Business
- Business Standard
Nutella maker Ferrero to acquire WK Kellogg private in $3.1 bn deal
The deal, which still needs approval from Kellogg shareholders, is expected to close in the second half of the year AP Washington Ferrero, known for brands like Nutella and Butterfinger, is taking cereal company WK Kellogg private in a deal valued at approximately $3.1 billion. The Ferrero Group will pay $23 for each Kellogg share. The transaction includes the manufacturing, marketing and distribution of WK Kellogg Co's portfolio of breakfast cereals across the United States, Canada and the Caribbean. Kellogg's brands include Fruit Loops, Special K, Frosted Flakes and Rice Krispies. The deal, which still needs approval from Kellogg shareholders, is expected to close in the second half of the year. Once the transaction is complete, Kellogg's stock will no longer trade on the New York Stock Exchange and the company will become a Ferrero subsidiary.
Toronto Sun
10-07-2025
- Business
- Toronto Sun
Nutella maker Ferrero taking cereal company Kellogg private in a deal valued at about $3.1 billion
Published Jul 10, 2025 • 1 minute read This is a shelf of Kellogg's Frosted Flakes cereal at a market in Homestead, Pa., on Monday, Feb. 24, 2025. Photo by Gene J. Puskar / AP Ferrero, known for brands like Nutella and Butterfinger, is taking cereal company WK Kellogg private in a deal valued at approximately $3.1 billion. The Ferrero Group will pay $23 for each Kellogg share. The transaction includes the manufacturing, marketing and distribution of WK Kellogg Co.'s portfolio of breakfast cereals across the United States, Canada and the Caribbean. Kellogg's brands include Fruit Loops, Special K, Frosted Flakes and Rice Krispies. The deal, which still needs approval from Kellogg shareholders, is expected to close in the second half of the year. Once the transaction is complete, Kellogg's stock will no longer trade on the New York Stock Exchange and the company will become a Ferrero subsidiary. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Toronto Blue Jays Toronto & GTA Olympics Uncategorized World
