D he Italian chocolate tycoon Michele Ferrero is dead. As Italian media reported the Surprise-inventor died Saturday at the age of 89 years in Monaco. The long-time head of the Ferrero Group, the Nutella and children is especially known for its brands, therefore, had been ill for several months. According to the news agency AG Ferrero is to be buried in his home town of Alba in northern Italy.
Michele Ferrero had the family business from his father, the confectioner Pietro Ferrero, who in the 40′s the idea had to replace in the production of a sweet cream prank expensive chocolate with cheaper hazelnuts. This was the beginning of the chocolate hazelnut spread, which, however, only in 1964 was named Nutella used to date.
Michele took over in 1957 the helm, the company expanded into an international chocolate company whose products have a high level of awareness, such as Ferrero Rocher chocolates, chocolate cherry Mon chéri as well as the brand children with various chocolate bars and in 1974 invented Surprise egg. In eleven manufacturing facilities worldwide approximately 365,000 tonnes are produced annually Nutella. The Group employs more than 22,000 people and has recently reported annual sales of more than eight billion euros.
With an estimated fortune of more than 20 billion euros Michele Ferrero was, according to the US business magazine ” Forbes “the richest man in Italy. From the days business however, he had retired several years ago. After the death of his eldest son Pietro, 2011, he handed over the management of the group to his younger son Giovanni. The Italian President Sergio Mattarella praised Michele Ferrero as a “true entrepreneur” who was “known and appreciated” been in Italy and abroad.
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