WELLS SALE
Le Mars’ largest employer, Wells Enterprises, today announced their firm has been acquired by an Italian company, Ferraro Group. The two made a joint announcement of the deal this morning at a gathering at the Le Mars Convention Center. Bus loads of company employees were brought in to hear the announcement, and ask questions about the move.
Mike Wells, CEO of Wells Enterprises, said he was first introduced to the Ferraro Group several years ago.
After meeting Ferrero’s CEO, Wells was convinced they could work together.
Wells wanted to make sure that a Ferrero-owned Wells Enterprises would maintain its commitment to Le Mars.
Wells leadership will stay in place under Ferrero ownership, and they will have 100% autonomy.
Under new ownership, Wells Enterprises will remain a stand-alone business with offices in Le Mars, and production facilities in Le Mars, Nevada and New York. Mike Wells, current CEO, will serve as an advisor during the transition to new ownership. Current Wells President Liam Killeen will become CEO, and the existing leadership team will remain in place.
Ferraro’s brands include Nutella, Kinder, Tic Tac, and Ferrero Rocher. They own 35 brands sold in over 170 countries, and employ over 38-thousand People. Wells is known for its ice cream brands – Blue Bunny, Halo Top, Blue Ribbon Classics, and the Bomb Pop. It employs 4-thousand people.
Wells and Ferraro are family-owned companies. Ferraro began as a pastry shop in 1946 in Italy. Wells was founded in 1913 as a dairy delivery business.
