Home Local News WELLS ENTERPRISES ACQUIRED BY FERRERO GROUP

WELLS ENTERPRISES ACQUIRED BY FERRERO GROUP

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WELLS ENTERPRISES IN LE MARS IS BEING PURCHASED BY A WELL KNOWN EUROPEAN CANDY MANUFACTURER.

THE FERRERO GROUP, MAKER OF FERRERO ROCHER CANDY, AND WELLS ENTERPRISES HAVE ANNOUNCED AN AGREEMENT FOR FERRERO TO ACQUIRE WELLS, ITS OPERATIONS AND ITS STRONG ICE CREAM BRANDS.

MIKE WELLS, THE CURRENT C-E-O OF WELLS, SAYS UNDER THE AGREEMENT, WELLS WILL REMAIN A STAND-ALONE BUSINESS WITH ITS OFFICES IN LE MARS AND 100 PER CENT AUTONOMY:

FERRERO1 OC…….OF OWNERSHIP. :14

WELLS PRODUCTION OPERATIONS WILL CONTINUE IN LE MARS; HENDERSON, NEVADA; AND DUNKIRK, NEW YORK.

MIKE WELLS SAYS GIOVANNI FERRERO VISITED LE MARS TO LEARN THE IMPORTANCE OF THE COMPANY TO THE CITY AND THAT WAS IMPORTANT TO WELLS AGREEING TO THE DEAL:

FERRERO2 OC……….TO THAT. :19

AFTER THE TRANSACTION CLOSES, MIKE WELLS, MEMBER OF THE FOUNDING FAMILY, WILL SERVE AS AN ADVISER TO SUPPORT THE TRANSITION AND MAINTAIN HIS ACTIVE ROLE IN THE LE MARS COMMUNITY.

CURRENT WELLS PRESIDENT LIAM KILLEEN WILL BE NAMED CHIEF EXECUTIVE OFFICER, AND THE EXISTING LEADERSHIP TEAM WILL REMAIN IN PLACE.

MIKE WELLS SAYS FERRERO INTENDS TO MAKE WELLS A GLOBAL LEADER IN ICE CREAM PRODUCTS:

FERRERO3 OC…ICE CREAM CATEGORY. :22

THE TRANSACTION, SUBJECT TO CUSTOMARY CLOSING CONDITIONS, IS EXPECTED TO CLOSE IN EARLY 2023. TERMS OF THE TRANSACTION ARE NOT BEING DISCLOSED.

SEVERAL BUSSES SHUTTLED WELLS EMPLOYEES TO THE LE MARS CONVENTION CENTER FOR AN ANNOUNCEMENT AT 9:30 THIS MORNING.