Incorporated in 1946 by Pietro Ferrero, Ferrero SpA is a privately-held, family-owned producer of confectionary treats, most notably chocolates. Ferrero was originally headquartered in Alba, Italy, but moved its headquarters to Turin, Italy in 1964.
Some of Ferrero’s most popular products are: Nutella, the Kinder brand, Ferrero Rocher and Mon Cheri chocolates, and Tic Tac. Throughout its more than 50-year history, Ferrero expanded operations in Europe, the Americas, Asia, Africa, and Australia.
The history of his Group began after World War II, thanks to Nutella. During this period, as the cocoa bean was expensive and rare, Pietro Ferrero invented a cream of hazelnuts and cocoa and called it Pasta Gianduja. Later on his sons became joint chief executives. Michele Ferrero modified his father's recipe to produce Nutella, which was first sold in 1964 and has become popular around the World with more than 85% of the market share of chocolate spread.
Today, the Group was comprised of seventy-two affiliated companies, including thirty-eight business units, fifteen production plants and three social enterprises, and its products are taken up by more than one hundred outlet markets.
After fifties year of experiences, Ferrero comes third in the world wide ranking of sweet manufacturers, after Masterfoods (Mars, Milky Way, Snickers) and Nestlé.
Headed by Giovanni Ferrero as Chief Executive Officer, the Group closed the operating year with a consolidated turnover of 7,218 million Euros, representing an increase of 9.1% over the previous year. Operating results were particularly good in Russia, the U.S. and Brazil.
The average number of people employed in 2010/11 was 21,913 units, well in keeping with the employment level during the previous year (21.736 units).
In the course of the year ended on 31 August 2011, the Group made new investments amounting to 382 million Euro (5.3% of turnover), and 350 million...