With the acquisition of Dori, the American company aims to further expand its presence in the Brazilian sweets market.
Dori Alimentos, the food company put up for sale in April and analyzed by U.S. companies such as Mars, Hershey’s and Mondelez, has been bought by another American giant, Ferrara Candy Company. The buyer is controlled by CTH Invest, which also owns the Ferrero Group, best known for the Ferrero Rocher brand.
Initially, Dori’s idea was to seek an IPO, put the money in cash, and give the private equity fund Acon an exit. Then, with the deterioration of the market, it decided to make an M&A deal to sell only the stake held by the fund. The search for a buyer was first reported by Pipeline, Valor’s business website.
In the end, however, Ferrara took 100% of the assets – the part of Acon and the founding family. The amount was not disclosed, but Pipeline found that the transaction was close to R$2 billion. Dori, which owns brands such as Pettiz, Gomets, Bolete, Yogurt 100, Chococandy, and Disqueti, reports revenue of R$1.1 billion a year, employs 3,100 people, and has a profit margin of around 15%.
“We are confident that [Ferrara] is the right partner for the next stage of Dori’s incredible story,”
Dori CEO said in a press release.
✔️ Ferrara was founded more than 100 years ago in Chicago and owns brands such as Black Forest, Brach’s, Nerds, SweeTarts, and Trolli. The company was bought by Italian group Ferrero in 2017 from the private equity firm L Catterton. The Ferrero Group, known for its chocolates, had already gained a foothold in the U.S. market with its TicTac candies.
With the acquisition of Dori, the company aims to further expand its presence in the Brazilian candy and gum market.
“Dori is a great fit for Ferrara, with a complementary candy portfolio, similar heritage, and a values-driven internal culture. We look forward to entering the fast-growing Brazilian market,”
said CEO of Ferrara.
✔️ Dori, since its founding in 1967, has become one of the largest and most relevant national manufacturers and distributors of healthy peanut snacks, sweet snacks and chocolate snacks, with the brands Dori, Pettiz, Gomets, Yogurte 100, Bolete, Deliket and Disqueti. The company currently exports to more than 40 countries on 5 continents. Dori’s consistent performance and multi-channel nationwide distribution capabilities have allowed it to enjoy double-digit revenue growth over the last several years.
Source: Valor International
