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Ferrero Scion Raises Sugary Food Bet for $35 Billion Fortune
- Founder’s grandson does more deals, adds products to diversify
- Company expands in comfort snacks as rivals chase health trend
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The low-profile billionaire behind the maker of Nutella spread and Ferrero Rocher chocolates is busy carving out an empire of comfort foods, seemingly less governed by the health and nutrition trend that’s gripped his bigger rivals.
Giovanni Ferrero’s plan to buy U.K. cookie maker Burton’s Biscuit Co. and a recent launch of ice cream bars were the latest in a series of moves that show he’s sticking with the baked goods and sugary snacks that made his family one of the world’s richest through their closely held confectionery firm, Ferrero Group.