The Franklin Reporter & Advocate Eight Villages, One Community
Michele Ferrero, patriarch of the international company that bears his name and makes Tic-Tac candies and Nutella hazelnut spread, died in Monte Carlo on Valentine’s Day, according to published reports.
His family’s company has its United States’ headquarters on Cottontail Lane in Somerset.
Michele Ferrero was 89. He died at his home in Monaco, according to a Reuters report.
Ferrero was named by Forbes as the richest man in Italy and the world’s 30th richest man. His wealth was estimated by Forbes at $23.4 billion.
The company that he inherited from his father and passed on to one of his sons was named by Forbes as the fourth-largest confectionary company.
Nutella was invented by Ferrero’s father, Pietro, at the end of World War II as a baking alternative to cocoa, which was under strict rationing at the time. The hazelnut-based concoction soon gained popularity in Italy and throughout Europe.
Michele Ferrero ascended to the head of the company in 1957.
In addition to Nutella and Tic-Tac, Ferrero also makes Fererro Rocher pralines and Kinder eggs.
