Nutella-maker Ferrero SpA has made a $177 million offer for London-based chocolatier Thortons plc.
Thortons makes chocolate, toffee and fudge that is sold through namesake stores, franchises, online and through retail partners.
The purchase price works out to 145 pence per Thorntons share, which works out to about $177 million U.S. Ferrero bought some Throntons shares before the deal, and currently owns 29.9 percent of the business.
Ferraro, headquartered in Pino Torinese, Italy, makes confectionary and other products, including candies and snacks, that are sold in more than 160 countries. The company counts Ferrero Rocher, Kinder, Nutella and Tic Tac among its brands.
Rothschild, Investec and Peel Hunt provided financial advice to Ferrero on the deal.
Other candy company acquisitions have come from Hershey (NYSE: HSY), which diversified its offerings by buying jerky-maker Krave Pure Foods in January, and Lindt & Spruengli AG, which agreed to acquire Russell Stover Candies Inc. in July.