Wintrust Business Minute: Ferrero cuts ribbon on first North American chocolate facility in downstate Bloomington

Wintrust Business Lunch

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Ferrero has cut the ribbon on its first chocolate processing facility in North America in downstate Bloomington. The company will produce chocolate for several of its brands, including Butterfinger, Crunch and Kinder. The plant will include a 70,000-square-foot expansion and will eventually include a $214 million facility to make Kinder Bueno chocolate bars. Ferrero already has manufacturing plants on Chicago’s south side and in suburban Franklin Park. It has two other global processing plants in Europe in addition to the new Bloomington site. Last year, Ferrero opened a new Innovation Center and research and development lab in Chicago’s Marshall Field building.

Also, Electric vehicle maker Rivian says its net loss widened in the first quarter to nearly $1.5 billion but revenue nearly doubled compared with the same period a year ago. Listen for more below:

https://serve.castfire.com/audio/4852962/4852962_2024-05-08-182002.64kmono.mp3

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