chocolate

Mars family eats Kind bars for bite of health snacks market

The family-owned conglomerate Mars, Incorporated has acquired in full the company behind Kind nut bars and granola for its boldest $5 billion foray into the health snacks market.

Italian confectioner Michele Ferrero, who created Kinder eggs and Ferrero Rocher for his eponymous family business, died over the weekend, aged 89.

The second gen passed away in Monaco, where he lived, on Valentine’s Day – one of the chocolate industry’s most important dates of the year. He had been suffering from illness for the past couple of months.

Although the business has been in the third generation for almost two decades, Ferrero was considered the main decision maker.

Family-owned chocolate maker Whittaker’s has announced it is expanding into the Malaysian market allowing its New Zealand-made chocolates to be sold by major retailers.

The family business, founded in 1896, has previously only supplied its chocolate range to Malaysian duty free shops.

Fourth-gen Matt Whittaker, head of international markets, says flavours being introduced have not previously been available in the Malaysian market, such as such as peanut butter, macadamia nut and dark peppermint fondant.

The third-gen chief executive of Italian confectioner Ferrero has rejected speculation the company is to be sold to Nestle, as questions about succession loom over the family firm.

Giovanni Ferrero released a statement on Thursday saying the company had been approached by rival foods conglomerate Nestle, but that it was not for sale.

Commentators, however, think the company's future is far from decided, especially since the death of Ferrero's co-chief executive, Giovanni's elder brother Pietro, in 2011 from a heart attack at the age of 47.