Ferrero SpA (), more commonly known as Ferrero Group or simply Ferrero, is an Italian multinational company with headquarters in Alba, Italy. Ferrero is a manufacturer of branded chocolate and confectionery products, and the second biggest chocolate producer and confectionery company in the world. Ferrero International SA's headquarters are in Luxembourg. Ferrero SA is a private company owned by the Ferrero family and has been described as "one of the world's most secretive firms". Reputation Institute's 2009 survey ranked Ferrero as the most reputable company in the world. It was founded in 1946 in Alba, Piedmont, Italy, by Pietro Ferrero, a confectioner and small-time pastry maker who laid the groundwork for Nutella and added hazelnut to save money on chocolate, taking the idea from gianduia, a sweet chocolate spread containing about 30% hazelnut paste, invented in Turin during Napoleon's regency (1796–1814). The company saw a period of tremendous growth and success under Pietro's son Michele Ferrero, who in turn handed over the daily operations to his sons, Pietro Jr. and Giovanni Ferrero (the founder's grandsons). Pietro Jr., who oversaw global business, died in April 2011 of a heart attack while cycling in South Africa at the age of 47. The Ferrero Group worldwide – now headed by executive chairman Giovanni Ferrero – includes 38 trading companies, 18 factories, and approximately 40,000 employees, and produces around 365,000 tonnes of Nutella each year. History In 1946, Pietro Ferrero invented a cream of hazelnuts and cocoa, derived from gianduja and called it Pasta Gianduja. The initial product came in solid loaves wrapped in aluminium foil, which had to be sliced with a knife, and was succeeded by a spreadable version called Supercrema. With assistance from his brother Giovanni Ferrero Sr., Pietro Ferrero created his new company to produce and market the initial product. Pietro was succeeded by his son Michele Ferrero as chief executive. Michele and his wife Maria Franca relaunched his father's recipe as Nutella, which was first sold in 1964. After World War II, they opened production sites and offices abroad, and Nutella eventually became the world's leading chocolate-nut spread brand. Ferrero is the world's largest consumer of hazelnuts, buying up 25% of global production in 2014. The company is currently run by Giovanni Ferrero, grandson of Pietro and son of Michele Ferrero. The company places great emphasis on secrecy, reportedly to guard against industrial espionage. It has never held a