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FAQs
Have questions? Wondering about the future of Wells Enterprises? Let’s talk about it. Check out some frequently asked questions about the newest chapter in our history.
What did Wells announce?
We announced an agreement to join the Ferrero Group as we continue accelerating our growth vision.
This announcement is the coming together of two private family businesses with shared values grounded in caring for our employees, a deep commitment to our communities and a passion for growth.
Why did Wells decide to take these actions now?
Following our 100th anniversary in 2013, Mike Wells and the Wells leadership team began a multi-year look at how we would ensure our next 100 years and our continued growth.
Joining Ferrero places us in the hands of another like-minded family business that’s absolutely committed to the Wells consumers, customers, employees, communities, values and passion for growth.
Who is The Ferrero Group? Why are they buying Wells?
Ferrero is one of the largest sweet-packaged foods companies in the world—and growing. It was founded in 1946 as a family business in Alba, Italy.
Globally, Ferrero Group is well known for much-loved brands like Nutella, Ferrero Rocher, Tic Tac and Kinder.
In the U.S., Ferrero Group’s portfolio includes Keebler, Famous Amos cookies and Little Brownie Bakers (the supplier of cookies to the Girl Scouts), as well as iconic American candy brands Butterfinger, CRUNCH and Baby Ruth.
For more information, we encourage you to visit their website: https://www.ferrero.com/the-ferrero-group/a-family-story
Will there be any changes to Wells’ name or brands?
As a stand-alone business unit, we are not expecting any changes from the way we work and show up in the marketplace today.
Will Wells continue to be recognized as an Iowa-based company?
Yes, Wells still will operate in Iowa.
When is the transaction expected to close?
The deal is expected to close in early 2023.
Will there be any consolidation of the Wells operations with Ferrero?
As a stand-alone unit, Wells will continue to operate as it does today.
Will there be layoffs in my community as a result of the transaction?
We have no new plans to change our employment numbers. In fact, we are continuing to hire and grow.
Will the Wells family continue to be prominent figures in Le Mars?
Absolutely! The Wells family has called Le Mars and Siouxland home for more than 100 years, and has deep roots in the local community.
Mike Wells, in particular, remains living here and is absolutely committed to the community, including investing in quality-of-life projects, local non-profits and initiatives.
Once the transaction closes, Mike Wells will be passing the baton to Wells President Liam Killeen, who will be named chief executive officer.
Mike Wells will continue as an adviser during the transition and will remain a constant presence in and around Le Mars.