MILAN/NEW YORK/HONG KONG/LONDON (Reuters Breakingviews) – Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
– Ferrero/Fox’s Biscuits
– Walt Disney
BITE SIZE. The pandemic has thrown confectionary giant Ferrero a tasty treat. The maker of Nutella chocolate spread and Kinder eggs may swallow UK-based Fox’s Biscuits, says Sky News. Though the family owned Italian group won’t comment, a deal would fit its strategy of diversifying from chocolate confectionary into packaged sweets. Ferrero, which earned 11.4 billion euros in revenue last year, could easily afford the reported price tag of 250 million to 300 million pounds.
For Fox’s owner, a sale may also make sense. The maker of Crunch Creams and Viennese has