Inflation, price increases in food raw materials, packaging and energy have not dampened the profits of Ferrero, the "father" of Nutella. According to the 2021-2022 consolidated accounts of Luxembourg-based Ferrero International, net profit was 751 million euros, up 5.4 percent from 989 million euros in the previous year. The parent company of the group's operations chaired by Giovanni Ferrero had sales of 14 billion euros compared to 12.7 billion euros in the previous fiscal year. These numbers allowed it to pay 646 million euros in dividends. This was possible even though the price of raw materials rose by 17.3 percent. However, the group laid the groundwork for the next phase of growth, with investments of 830 million euros focused on expanding production capacity in Italy, the United States, Germany, and Poland. The map of companies (and profits) does not include Ferrero's other jewel in the crown, namely the Belgian company Cth, the acquisition arm set up by Giovanni Ferrero. It is a holding company financed by the dynasty and acts as a bridge for m&a in sectors that are not traditional and therefore not consolidated by the multinational. Cth has, for example, bought mainly in the U.S. (Ferrara Candy) but also in Europe cookie factories such as Delacre and Kelsen.
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