Latest news with #LapoCiviletti
Korea Herald
5 days ago
- Business
- Korea Herald
FERRERO GROUP'S 2024 SUSTAINABILITY REPORT SHOWS STEADFAST COMMITMENT, INNOVATION AND IMPACT IN THE FACE OF GLOBAL CHALLENGES
LUXEMBOURG, July 24, 2025 /PRNewswire/ -- The Ferrero Group has today announced the latest progress in its sustainability journey, with the release of its 16 th Sustainability Report. Guided by Ferrero Group's long-standing commitment to having a positive impact throughout its value chain, the report shares the significant and continued progress the business has made across its key sustainability priorities. "Sustainability is deeply embedded in Ferrero's long-term strategy. It's a fundamental driver of business resilience and shapes the decisions we make, as we grow responsibly. In the face of global challenges, particularly climate change, our commitment remains clear: to source responsibly, innovate boldly, and safeguard the natural world for future generations. This progress is made possible by embracing collective action, leveraging innovation, research and development, and continuously learning from experience to deliver measurable, meaningful impact," said Giovanni Ferrero, Executive Chairman of the Ferrero Group. "We made steady progress on our sustainability agenda during fiscal year 2023/2024. I am particularly proud of the ongoing steps we are taking to achieve our long-term commitments. We have successfully advanced our sustainability journey while maintaining strong financial stewardship across the company. We are making great efforts on the traceability of our key ingredients and improving supply chain visibility, while advancing our commitments to promoting human rights and continuing our work on decarbonisation across the business," said Lapo Civiletti, Chief Executive Officer of the Ferrero Group. Ferrero's latest Sustainability Report highlights continued progress in traceability across its global supply chains, with more than 90% of key ingredients now mapped to origin. Strategic partnerships with Sourcemap and Starling are strengthening precision tracking of key commodities - achieving 97% traceability for both cocoa and palm oil, and 94% for hazelnuts. Ferrero has made strong progress toward its 2030 goal of halving greenhouse gas emissions, with significant reductions already achieved compared to its 2017/18 baseline. With 92.1% of its packaging now designed to be recyclable, the company has maintained its commitment to ensuring more than 90% of packaging materials are reusable, recyclable, or compostable.
Cision Canada
6 days ago
- Business
- Cision Canada
FERRERO GROUP'S 2024 SUSTAINABILITY REPORT SHOWS STEADFAST COMMITMENT, INNOVATION AND IMPACT IN THE FACE OF GLOBAL CHALLENGES
LUXEMBOURG, July 24, 2025 /CNW/ -- The Ferrero Group has today announced the latest progress in its sustainability journey, with the release of its 16 th Sustainability Report. Guided by Ferrero Group's long-standing commitment to having a positive impact throughout its value chain, the report shares the significant and continued progress the business has made across its key sustainability priorities. "Sustainability is deeply embedded in Ferrero's long-term strategy. It's a fundamental driver of business resilience and shapes the decisions we make, as we grow responsibly. In the face of global challenges, particularly climate change, our commitment remains clear: to source responsibly, innovate boldly, and safeguard the natural world for future generations. This progress is made possible by embracing collective action, leveraging innovation, research and development, and continuously learning from experience to deliver measurable, meaningful impact," said Giovanni Ferrero, Executive Chairman of the Ferrero Group. "We made steady progress on our sustainability agenda during fiscal year 2023/2024. I am particularly proud of the ongoing steps we are taking to achieve our long-term commitments. We have successfully advanced our sustainability journey while maintaining strong financial stewardship across the company. We are making great efforts on the traceability of our key ingredients and improving supply chain visibility, while advancing our commitments to promoting human rights and continuing our work on decarbonisation across the business," said Lapo Civiletti, Chief Executive Officer of the Ferrero Group. Ferrero's latest Sustainability Report highlights continued progress in traceability across its global supply chains, with more than 90% of key ingredients now mapped to origin. Strategic partnerships with Sourcemap and Starling are strengthening precision tracking of key commodities - achieving 97% traceability for both cocoa and palm oil, and 94% for hazelnuts. Ferrero has made strong progress toward its 2030 goal of halving greenhouse gas emissions, with significant reductions already achieved compared to its 2017/18 baseline. Scope 1 and 2 emissions were reduced by 21.7%. For Scope 3, FLAG (Forest, Land, and Agriculture) and non-FLAG emissions were disaggregated to improve carbon accounting and enhance data reliability and accuracy. 90% of electricity for manufacturing and warehousing is now sourced from renewables. With 92.1% of its packaging now designed to be recyclable, the company has maintained its commitment to ensuring more than 90% of packaging materials are reusable, recyclable, or compostable. Notable progress has been made in reducing virgin plastic, including a 13% decrease in the plastic-to-product ratio. This includes the conversion of Ferrero Rocher boxes from polystyrene to polypropylene in North America and China, resulting in an estimated saving of approximately 11,000 tonnes of plastic. Other highlights include the launch of Nutella Plant-Based in jars made from 60% recycled glass and the rollout of Kinder Joy's paper spoon. Other highlights from the Ferrero Group's Sustainability Report include: For further details, please refer to the full Sustainability Report.
Miami Herald
10-07-2025
- Business
- Miami Herald
Ferrero to buy WK Kellogg in candy-meets-cereal deal
Ferrero, the Italian candy maker, has agreed to acquire WK Kellogg, the American cereal giant, in a deal valued at $3.1 billion, the companies announced Thursday. The takeover would combine Ferrero, a family-owned company that makes Tic Tacs, Ferrero Rocher candies and Nutella spreads, with the producer of Frosted Flakes, Froot Loops, Rice Krispies and other cereals. It represents Ferrero's latest push to grow its business in North America following a series of acquisitions in recent years, including buying Nestlé's U.S. confectionery business in 2018. The deal would expand Ferrero's presence in North America and help the company move beyond its candy and snack offerings, Lapo Civiletti, the CEO of the Italian group, said in a statement. Shares of WK Kellogg surged 30% in early trading, rising to just below the acquisition price agreed to by the companies. Merger activity in the food sector has been slow this year as President Donald Trump's volatile trade policy has created uncertainty for company executives and unsettled consumers, according to investment banking firm Capstone Partners. Shoppers, faced with nearly two years of significant price increases for cereals, snacks and other foods at grocery stores, have either cut back or switched to less expensive, private-label store brands. WK Kellogg reported a slump in sales in its first quarter this year because of the 'weaker than expected consumption trends.' The company said sales for the full year would be lower than previously expected, falling as much as 3%. In preliminary results released Thursday, WK Kellogg said it expects sales for the second quarter, which ended June 28, to land between $610 million and $615 million, a decline from the same period last year. The combination with Ferrero would give WK Kellogg 'greater resources and more flexibility to grow our iconic brands in this competitive and dynamic market,' Gary Pilnick, CEO of WK Kellogg, said in a statement. WK Kellogg was created in 2023 when the Kellogg Co. spun it off as an independent company. The larger remaining business, which focused on snacks such as Pringles and Cheez-It, was renamed Kellanova. Mars, the company behind M&M's and Snickers, agreed last year to acquire Kellanova in a deal valued at $35.9 billion. Last month, the Federal Trade Commission approved that deal -- a signal that the Trump administration's antitrust regulators might take a less aggressive approach to merger enforcement than their Biden administration predecessors. The timing of Ferrero's latest U.S. acquisition is 'likely based on a struggling share price for WK Kellogg and the FTC's approval without conditions of Mars' acquisition of Kellanova,' said Brad Haller, a senior partner at West Monroe. The Kellanova deal is still facing antitrust review in Europe. This isn't the first deal between Ferrero and Kellogg. Before the spinoff, Ferrero in 2019 acquired the Kellogg Co.'s Keebler cookie brand, Famous Amos cookies, the Kellogg fruit snacks business, and Little Brownie Bakers, the supplier of Girl Scouts cookies. Ferrero's current deal for WK Kellogg is 'relatively small,' meaning it is less likely to face significant regulatory hurdles, said Philip Howard, a professor at Michigan State University, who studies concentration in the food system. 'Since Ferrero is dominant in candy but not breakfast cereal, it probably won't be challenged by regulators in the U.S. or EU,' he added. This article originally appeared in The New York Times. Copyright 2025
Yahoo
10-07-2025
- Business
- Yahoo
Ferrero to take over US breakfast cereal giant Kellogg
Italian chocolate giant Ferrero is taking over one of America's oldest breakfast cereal companies, buying the maker of Kellogg's Corn Flakes for $3.1bn (£2.3bn). Ferrero said it planned to invest and expand WK Kellogg's "iconic" brands, which include Froot Loops and Rice Krispies. The private, family-owned Ferrero has been pushing to expand in recent years, buying Nestle's confectionery business and several other food firms. But with its latest deal it is taking on a portfolio facing challenges, as rising prices and health concerns erode the popularity of boxed cereals. Founded in 1946, Ferrero is one of the world's biggest players in the chocolate market, with more than 30 brands sold globally. Those include Nutella, Kinder, TicTac and other confectionery, such as Jelly Belly and Trolli. The new acquisition will give the firm, which already has more than 14,000 staff in North America, a dominant position in the US breakfast cereal market. The company said it was paying $23 per share for the company in cash. Reports that a deal was imminent had sent the firm's share surging by more than 56% in overnight trading. Chief executive Lapo Civiletti said the deal would complement Ferrero's existing offerings "expanding Ferrero's presence across more consumption occasions". Kellogg boss Gary Pilnick said he expected the deal to provide the firm with more resources, and that Ferrero, which is a private company not subject to the pressures of the public market, would provide a "great home for our people". Kellogg founder Will Keith Kellogg, who started the business in Michigan nearly 120 years ago, is widely considered to be the inventor of corn flakes. Its mascots, such as Frosted Flakes' Tony the Tiger, helped make it one of the most recognised American companies of the 20th century. But the firm, which also makes Kashi and Raisin Bran, has been seen sales flatten in recent years and has more than $500m of debt. In 2023, it was split off from its former parent company's international and snacks business, which was renamed Kellanova and later sold to confectionery giant Mars for $36bn. Households pressured by the rising cost of living have also increasingly opted for cheaper store brands over typically more expensive brand names. The industry has also come under pressure from the Trump administration, which has targeted artificial colouring in brands like Froot Loops as part of its "Make America Healthy Again" campaign. Kellogg has said it will remove the synthetic colours from cereals eaten in schools by the 2026-27 school year. But it has not yet set a timeline for taking them out of cereals sold to the general public. Is RFK Jr's divisive plan to Make America Healthy Again fearmongering - or revolutionary? Why food firms are scrambling to cut down on ingredients
