Houlihan Lokey Advises Ferrero Group

Houlihan Lokey is pleased to announce that Ferrero Group (Ferrero) has completed its acquisition of a controlling stake in Ice Cream Factory Comaker (ICFC), a Spanish private label ice cream manufacturer. As part of Ferrero's commitment to satisfying consumers' needs, Ferrero is constantly evaluating new opportunities in different product categories. The Lamsfus family will remain shareholders of ICFC and Guillermo Lamsfus Bravo will continue to lead the business as Managing Director. The transaction closed on 4 July 2019.

ICFC is the leading Spanish-based private label ice cream manufacturer with turnover of c. €120 million and production volume of c. 76 million litres per annum. With more than 50 years of experience in the sector, the company operates two production sites in Alzira, Spain and Castel d'Ario, Italy to successfully serve a wide range of retailers across Europe. Its product portfolio includes sticks, cones, frozen cakes, and sandwiches, among others.

Ferrero is a family-owned business founded in Alba, Italy in 1946. It is the third-largest company in the global chocolate confectionery market, with a global presence and home to many iconic household brands, including Nutella, Kinder, Ferrero Rocher, and Tic Tac. The company has sales in excess of €11 billion, distribution across 170 countries, and a workforce of more than 30,000 people in 53 countries.

Houlihan Lokey acted as the financial advisor to Ferrero. This transaction reinforces Houlihan Lokey's strong global franchise in the food sector.

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