He was Ferrero reportedly died after falling from his bike during a ride on a coastal road near Cape Town while on a break from a company meeting. He was on a business trip with his father, Michele Ferrero, who turned the company into an international sweets producer and invented successes including Nutella and Kinder in the s, according to the Daily Mail.
The company was set up in the by his grandfather, also named Pietro Ferrero. As a pastry chef in Piedmont, north-western Italy, he created a secret recipe for a chocolate spread that used hazelnuts rather than exclusively cocoa for flavouring, helping to avoid the problems caused by wartime food shortages as well as cutting costs.
This success was expanded to a global scale by the founder's son, Michele Ferrero. He in turn handed the company's day-to-day running over to his two sons some years ago, but he remains the company's chairman and was in South Africa with Mr Ferrero when his death occurred.
The company now has more than 20, employees across the world and remains owned entirely by the family, which is the wealthiest in Italy according to Forbes magazine. Mr Ferrero began working for the company in Germany in , before taking charge of the European arm in He was joint chief executive - along with his brother - of the Ferrero group, which owns Nutella and Kinder. His father Michele, Italy's richest man, turned the company into a global giant of the confectionery industry.
Mr Ferrero's grandfather, also Pietro, started the company in in the northern Italian town of Alba, where the firm is still based. Because of wartime shortages, chocolate was difficult to obtain. The elder Pietro Ferrero hit upon a recipe which combined cocoa with locally abundant hazelnuts. That concoction - Nutella spread - became an international success.
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