How does Ferrero’s Bold Snacks acquisition in Brazil signal wider industry trends?

Ferrero Group has agreed to acquire Bold Snacks, a Brazilian protein snack brand, in a deal that reflects the global industry pivot from legacy indulgence categories toward health‑oriented, digitally enabled, and region-specific snacks. Multinational food corporations increasingly regard “better-for-you” snacks as a competitive strategy and investment priority, as global consumers demand more nutritious products. 

The global confectionery company highlights Bold Snacks’ strong growth since its 2018 launch, driven by the brand’s digital strategy and premium protein bar portfolio. Bold Snacks also recently expanded into whey powders.

“Bold Snacks is a distinctive brand with strong momentum in Brazil, and this transaction further strengthens our presence in the category, while supporting the continued development of our portfolio across key geographies,” says Daniel Martinez Carretero, chief financial officer at Ferrero Group.

The acquisition is Ferrero’s first foray into the “‘better-for-you” segment in South America, and the proposed transaction is expected to close in the coming months, subject to customary closing conditions.

Diversification into functional snack markets

Ferrero’s pending purchase of Bold Snacks is explicitly framed as an entry into the “better‑for‑you” segment in South America — a category centered on protein and functional nutrition rather than indulgent confectionery.

Consumer preferences are shifting toward health and wellness, especially protein‑rich and functional foods that deliver nutritional benefits. Innova Market Insights data suggests that global consumers seek protein (60%) and fiber (55%) in snacks, but most (74%) say flavor, taste, and texture are the most important factors when purchasing products.

Traditional snack and confectionery players can no longer rely solely on indulgence‑driven portfolios — growth is increasingly tied to wellness‑oriented, nutrient‑forward formats. And the trend isn’t isolated to North America and Europe, with major multinationals increasingly targeting other high-growth regions.Bold Snacks’ strong digital strategy has been a key driver in its rapid growth in the competitive snack industry.

In notable examples, Nestlé acquired The Good Bean, a chickpea-based snack brand, in 2022 to tap into India’s growing demand for healthy, plant-based snacks. In 2021, Mars acquired Vigor, a Brazilian snack company known for its sweet biscuits, enabling Mars to expand its reach in the rapidly growing Brazilian snack market.

Last year, PepsiCo acquired Mexican‑American healthy snack brand Siete Foods for US$1.2 billion, while Mars completed one of the largest deals in the sector by acquiring Kellanova (formerly Kellogg’s global snacks business) for around US$36 billion.

For global CPG players, strong local brands promise higher return potential than building new brands in unfamiliar markets. Companies are acquiring regionally successful brands to leapfrog market entry and distribution challenges, while markets like Latin America, traditionally underpenetrated by “better‑for‑you” packaged snacks, are now focal points for international expansion.

Ferrero Group’s Bold Snacks acquisition adds to its growing portfolio of “better-for-you” brands, which includes Eat Natural and Fulfil in Europe, and Power Crunch in North America. These brands complement the company’s iconic indulgence brands, such as Nutella, Kinder, and Ferrero Rocher.

Bold Snacks: Digital‑first consumer engagement

Bold Snacks’ growth has been closely tied to its digital strategies and e-commerce momentum, which have helped the brand rapidly scale in a competitive market. This strategy aligns with broader industry shifts, where brands that control first-party data and direct consumer relationships have become increasingly attractive targets for acquisition.

As traditional FMCG players look to adapt to changing consumer behaviors, many are accelerating their digital transformation through strategic acquisitions, opting to integrate successful digital-first brands rather than attempting to build these capabilities internally.Ferrero’s Bold Snacks acquisition marks its first entry into the growing healthy snack market in South America.

Ferrero’s acquisition also reflects the increasing importance of sustainability and ethical sourcing in consumer purchasing decisions. Bold Snacks’ approach to using clean ingredients and transparent labeling resonates with the growing segment of consumers who are prioritizing health and sustainability.

“Becoming part of Ferrero is an amazing opportunity for our business and our people,” says Gabriel Ferreira, Bold Snacks founder and CEO. “Being recognized by a global food leader with a strong track record of building and nurturing iconic brands provides a unique opportunity to accelerate our growth and help bring Bold Snacks to more consumers than ever before.”

In Brazil, Ferrero and its affiliated company Dori Alimentos, owned by Ferrara, currently employ 4,500 people across five plants and three offices. Ferrero will take over Bold Snack’s office and factory in Divinópolis, Minas Gerais, with approximately 300 employees expected to join Ferrero Brazil.

As consumer preferences continue to evolve, Bold Snacks’ focus on functional, protein-rich snacks is well-aligned with the growing demand in Latin America for healthier F&B options. In Brazil, where the wellness trend is gaining traction, this acquisition allows Ferrero to build on Bold Snacks’ regional presence and expand its reach into the rising demand for functional foods.