Ferrero offers £112m for British chocolate maker Thorntons

Milan

FERRERO, the maker of Nutella spread, has offered to buy British chocolate company Thorntons Plc for £112 million (S$237 million), a rare acquisition by the Italian group.

The deal, backed by the board of Thorntons, brings together two of Europe's best-known chocolate makers. It marks the first move by the maker of Ferrero Rocher pralines since the death of its patriarch Michele Ferrero earlier this year. Mr Ferrero's death rekindled speculation about a possible takeover of the company by larger rivals such as Mondelez International, Nestle, Mars and Hershey .