Time to Panic About Hazelnuts

Not to worry, via my old favorite Venessa Wong at Businessweek, Nutella owns 25% of the world’s supply of hazelnuts and has acquired Oltan Group, the leading supplier of hazelnuts. Nutella will be fine. They account for 70% of all U.S. sales of chocolate spreads and are, somehow, a 2.5 BILLION dollar company. That’s a lot of people studying abroad and then coming home feeling really cultured because they put Nutella on their toast now. (BEEN THERE.) But it’s the other guys, the little confectioners, that have to worry.