Michele Ferrero, the father of Nutella chocolate spread that has made it the richest man in Italy, died Saturday at the age of 89, Italian media reported.
He had inherited his father pastry a small business and a recipe for a “Supercrema” made with hazelnuts and cocoa, which he renamed in 1964 “Nutella” and on which he has built an empire. The Ferrero Group (Kinder, Ferrero Rocher, Mon Cheri) now has more than 22,000 employees worldwide and annual sales of over $ 8 billion.
“The “Nutella – as the Italians say – is participating for 1.7 billion euros. Its 11 plants around the world annually produce 365,000 tons, to the chagrin of dieticians.
Michele Ferrero had ceded the presidency of the group in 2011 to his son Giovanni, 50 years. According to the magazine Forbes , the Ferrero family is at the head of the largest fortunes in Italy, with a portfolio valued at € 14.9 billion.
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