Chocolatier Michele Ferrero, whose company is famous for Nutella and Ferrero Rocher, has died at the age of 89.

Italy's richest man passed away yesterday in Monte Carlo after being ill for several months.

His father first started making Nutella hazelnut spread when cocoa was rationed during World War II.

The firm also makes Tic Tacs and Kinder products.

Italian President Sergio Mattarella said he was deeply touched by Ferrero's death, calling him a "born entrepreneur".

He said: "I have learnt with emotion of the passing of Michele Ferrero, a true entrepreneur, known and loved in Italy and abroad."

"Ferrero was a leading light in Italian business for many years, always managing to stay on trend thanks to his innovative products and his tenacious and cautious work."

"Italy remembers him with gratitude."

Mr Ferrero's father opened his first chocolate laboratory in Alba - in Italy's northwest Piemonte region - in 1942 and the business was passed to Michele after his father's death in 1949.

By 1997, he had handed over the running of the company to his two sons, Pietro and Giovanni.

Giovanni became chief executive after his older brother Pietro died of a heart attack in 2011.

Michele Ferrero is survived by his wife, Maria Franca, and Giovanni.

His death opens the question of succession and potential tie-ups at the family-controlled Ferrero group, which has sales of some €8bn.

Last year, Forbes ranked the family 30th on the list of the world's richest billionaires with a fortune of around €20bn.

In 2013, Giovanni denied suggestions the company had been approached by Swiss-based Nestle, saying Ferrero was not for sale.

Of course, who could forget this 1993 advert: