By all measures, Ferrero had been a successful U.S. company for years. While its corporate headquarters are in Alba, Italy, the private company owns several brands popular in the U.S., including its Nutella spread.

But the company has actively grown its U.S. business in recent years. The first step was through acquisitions. In 2017, the company bought Fannie May chocolates and Ferrara Candy, the maker of Brach’s, Nerds and SweeTarts. A year later, Ferrero bought Nestlé’s U.S. candy business for $2.8 billion. And in 2019, Ferrero purchased Kellogg’s cookie brands and fruit snacks, including Keebler and Famous Amos, for $1.3 billion.