[From the official Nutella Website]
Nutella® spread, in its earliest form, was
created in the 1940s by Mr. Pietro Ferrero, a pastry maker and founder
of the Ferrero company. At the time, there was very little chocolate
because cocoa was in short supply due to World War II rationing.
So Mr. Ferrero used hazelnuts, which are plentiful in the Piedmont region of Italy (northwest), to extend the chocolate supply.
The original version of Nutella® spread was called
"pasta gianduja," pasta which means paste, and "gianduja" which is the
name of a carnival character famous to the region, a character that can
be found in the first advertisements for the product.
Pasta gianduja was actually made in loaves and
wrapped in tinfoil, so it could be sliced and placed on bread for
mothers to make
sandwiches for their children. But many children, as you could imagine,
would throw away the bread and only eat the pasta gianduja!

From the start, Nutella® spread was well
received, since it was a less expensive way for people to enjoy
something that tasted so good... a kilo of chocolate at the time was 6
times the cost of a kilo of pasta gianduja. So Nutella® was a product
that everyone could, and did, enjoy. The product became so popular that
Italian food stores started a service called "The Smearing". Children
could go to their local food store with a slice of bread for a "smear"
of "supercrema gianduja."
Since European families and visitors have enjoyed
Nutella® as a breakfast staple on bread and toast for more than 40
years, the Ferrero Company wanted to introduce this traditional Italian
breakfast item to the U.S. market in order to share the enjoyment of
such a unique, convenient and tasty product. Nutella® was first
imported from Italy to the U.S. over 25 years ago in 1983 and was
initially distributed in the Northeastern part of the country. The
popularity of Nutella® has grown steadily over the years and it is now
available across the United States. In addition, Nutella® is also
marketed and sold all over the world.
The unique formula of Nutella® hazelnut spread
continues to be made from the combination of roasted hazelnuts, skim
milk and a hint of cocoa. In addition, Nutella® has no artificial
colors or preservatives. It can be found in grocery stores, warehouse
clubs and mass merchandisers and is generally found near the peanut
butter and sweet spreads section.
When used in moderation with complementary
foods, Nutella® can form a part of a balanced breakfast. It can be a
quick and easy way to encourage kids to eat whole grains, such as whole
wheat toast, English muffins, toaster waffles and bagels. With the
unique taste of Nutella®, kids may think they are eating a treat for
breakfast while moms are helping to nourish their children with whole
grains!