Ferrara® Candy Company Announces FY 2023 Performance
CHICAGO, May 22nd, 2024
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 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.ferrara.com or www.linkedin.com/company/ferrara-
