European Commission gives thumbs up for Ferrero’s Oltan takeover

By Oliver Nieburg contact

- Last updated on GMT

Related tags: Ferrero spa, European union, Ferrero

Ferrero given all clear to buy Oltan by EU
Ferrero given all clear to buy Oltan by EU
The European Commission has cleared Ferrero’s acquisition of hazelnut supplier Oltan and says there are no competition concerns due to ample alternative suppliers on the market.

Ferrero announced it had acquired Turkish hazelnut suppler Oltan in July​ this year in a move that created the world’s largest hazelnut supplier.

A Commission investigation found that the deal would raise create competition concerns as confectioners will still have sufficient alternative hazelnuts suppliers, such as Progida, Ozgun, Balsu, Durak, Gursoy, Yavuz.

“In addition, some competitors have recently entered the market or strengthened their presence,”​ said the Commission in a release.

Ferrero is the world’s premier hazelnut user. It uses the commodity in brands such as Kinder Bueno, Kinder Surprise, Rocher, Mon Cheri and Nutella.

Ferrero had previously been a rival of Oltan’s through its Stelliferi business. Last year, the Italian chocolate giant opened a $119m plant in Turkey​ , the world’s premier hazelnut producer. In 2009, Ferrero was cleared of alleged hazelnut fraud in a case that spanned seven years.

Related topics: Ingredients, Chocolate, Ferrero

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