Net Sales of $1.8
Billion Reflect 15% Year Over Year Growth
CHICAGO, May 22, 2024
/PRNewswire/ -- Ferrara Candy Company, the largest sugar candy
company in the U.S., today announced its financial results for the
Fiscal Year 2023, highlighted by net sales of $1.8 billion which represent 15 percent growth
over 2022.
Financial results for the year include:
- Ferrara "pro-forma" Net Sales, including the newly acquired
companies of Dori and Jelly Belly, almost at $2.2 billion marking double-digit growth (DDG)
over last year
- NERDS continued growth and category leadership with
$500 million in total sales,
demonstrating 67% growth year over year
- Acquisitions of Dori Alimentos and Jelly Belly Candy Company
brought nearly USD $500 million of
additional sales into company portfolio
- Expected high single digit top line growth in 2024 driven
mostly by organic growth and innovation.
Ferrara continues to maintain its position as the leader in
sugar confections in the U.S., and the company's NERDS Gummy
Clusters retained its spot as America's top sugar candy throughout
2023. The company increased market share through continued product
growth, new market expansions, and strategic international and
domestic acquisitions.
"Ferrara's portfolio of brands aims to delight consumers and
continue to expand in the U.S.A.
and the world, and our performance in 2023 indicates consumers
continue to love our products," said Maurizio Ficarra, Chief Financial Officer of
Ferrara. "By adding Dori and Jelly Belly to the Ferrara portfolio,
we immediately accelerate our ongoing international expansion with
sizeable international sales and operations of well-known and
beloved brands. We are optimistic that we will build on this
momentum in 2024 to build on the success in of Ferrara and drive
the growth of the sugar category in the U.S."
Dori is the second largest Brazilian sweets and snacks
manufacturer. Its addition to the Ferrara ecosystem successfully
closed on September 29, 2023, marking
Ferrara's first international expansion through acquisition.
In the fourth quarter, Ferrara announced and closed on the
acquisition of the iconic American candy manufacturer Jelly Belly
Candy Company, renowned for its premium jelly beans. Jelly Belly
jelly beans have been one of the most loved and recognizable candy
products in the world since their introduction in 1976.
Ferrara continues to focus on accelerating the sugar candy
category, which is America's fastest growing candy category.
Ferrara brands like NERDS, SweeTARTS, Trolli, and BRACH's have
helped propel it's market share to 20.1% but also have played a
pivotal role in driving 30% growth for the category as a whole
since 2021.
During 2023, excluding acquisitions, Ferrara invested over
$100 million in capital expenditures
to sustain growth and continue modernize its manufacturing
footprint. Over the past 12 months, thanks to the acquisitions,
Ferrara increased its manufacturing facilities from seven to 14 and
now has a presence in USA, Mexico,
Brazil and Thailand. During this timeframe, Ferrara's
workforce also grew from approximately 4,500 to more than
8,000.
About Ferrara®
For more than 115 years,
Ferrara has created sugar confections that enable moments of
sweetness, celebration, and connection for candy lovers of all
generations. Today, the company is a leading sugar confectioner in
the United States and Brazil, with global sales in more than 40
countries. Ferrara boasts a passionate team of more than 8,000
employees creating and delivering hundreds of products sold under
30+ popular brands like Brach's®, Jelly
Belly®, NERDS®, SweeTARTS®, Laffy
Taffy®, and Trolli® to more than 67 million
U.S. households annually and popular Dori products under brands
such as Dori, Gomets, Pettiz, and Yogurte 100 in Brazil. Ferrara has its global headquarters in
Chicago and an operational network
of more than 27 locations in North
America, Brazil,
China, and Thailand that includes manufacturing,
distribution, sales, and R&D facilities. Ferrara is a privately
held, Ferrero-related company. Learn more at
www.ferrarausa.com or
www.linkedin.com/company/ferrara-.
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SOURCE Ferrara