Jelly Belly candy — once the go-to sugar fix for former President Ronald Reagan when he was trying to kick a smoking habit — is now under the same roof as Nerds and Sweet Tarts.
What Happened: Ferrara Candy Company, the U.S. subsidiary of Luxembourg-based Ferrero SpA, agreed to buy the family-owned jelly bean company for an undisclosed price.
Ferrara, which also owns Gobstoppers and Lemonheads, acquired Jelly Belly — known for its more than 100 flavors of jelly beans — through a holding company called CTH Invest.
An estimated 800 Jelly Belly employees, based in California, Illinois, and Thailand, are expected to join the Ferrara organization.
Jeff Brown, currently executive vice president of global operations and distribution of Jelly Belly, will be CEO.
Raymond James advised Jelly Belly on the sale ...