Ferrero Group has acquired granola brand Purely Elizabeth to bolster its healthy breakfast offering.
Founded in 2009 and based in Colorado, Purely Elizabeth has more than doubled its sales in the past two years, with annual revenues nearing $300m (£222m).
The deal price remains undisclosed but media reports in the US estimated Ferrero paid $850m (£628m) to buy the business started by Elizabeth Stein in her kitchen 17 years ago.
Initially, Stein made baking mixes for healthier muffins, gaining a listing with Whole Foods Market in 2010, before expanding the range to ancient grain granola and launching nationwide by 2014.
Today, the brand sells better-for-you granola, oatmeal and cereals made using ‘superfood’ ingredients.
Ferrero said it intended to support Purely Elizabeth’s next phase of growth through continued product innovation, operational capabilities and expanded distribution. The Italian confectionery giant hopes the move will extend the reach of the health & wellness brand to more mainstream consumers, while preserving its “distinct identity and commitment to quality”.
The acquisition builds on Ferrero’s growing portfolio in the US, particularly in the breakfast aisles following the 2025 takeover of WK Kellogg Co. The Purely Elizabeth deal also further expands the company’s better-for-you portfolio, which includes Eat Natural and Fulfil in Europe, Power Crunch in North America, and Bold Snacks in Brazil.
“Building Purely Elizabeth from an idea 17 years ago into the brand it is today has been one of the most rewarding journeys of my life, and I’m incredibly proud of what our team has accomplished,” Stein said.
“As I thought about the next chapter, finding a partner who understood what makes Purely Elizabeth special and shared our commitment to quality, innovation, and building for the long term was incredibly important to me. In Ferrero, we’ve found a family-owned company that believes deeply in what we’ve built and sees the tremendous opportunity still ahead.
“I couldn’t be more excited to continue leading Purely Elizabeth alongside our team as we bring our mission and products to even more people.”
Purely Elizabeth will continue to operate as a standalone brand within the Ferrero Group, with Stein continuing in her role as CEO alongside the existing leadership team.
The business would benefit from Ferrero’s long-term commitment to support the product development pipeline and innovation, supporting the continued growth of Purely Elizabeth, the new owner said.
Ferrero International president Giovanni Ferrero added: “Purely Elizabeth, with its terrific portfolio of quality, tasty products, is a great addition to Ferrero.
“With this transaction, Ferrero builds on its recent acquisition of WK Kellogg Co, reinforcing both its presence at breakfast time in America and its reach in the better-for-you segment.”
Lapo Civiletti, president of Ferrero Ice Cream and WK Kellogg Co, said: “This acquisition reflects our long-term strategy to invest in high-growth categories and further enhance our presence in the better-for-you offerings across breakfast occasions and beyond.
“Purely Elizabeth has built a distinctive brand by being in tune with evolving consumer preferences through premium, innovative and delicious products, making it a highly complementary addition to our portfolio. We look forward to supporting the brand’s continued growth while preserving the entrepreneurial spirit that has made it successful.”
The proposed transaction is expected to close in the coming months, subject to customary closing conditions and regulatory approvals.
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