Nestlé Is Selling Its US Candy Brands To The Maker Of Nutella

Ferrero and Nestle confectionery

Nestle is selling almost $3 billion worth of its US candy brands, including Butterfinger, BabyRuth and Nerds, to Ferrero, the maker of Nutella, according to the companies.

The sale of the unit, which includes the Butterfinger and Baby Ruth brands, is also the first major divestment by the Swiss food giant since Chief Executive Officer Mark Schneider took the helm previous year.

Nestle has snapped up companies that make vegetarian meals, vitamins and luxury coffee.

Encompassing over 20 brands like Butterfinger, Nerds, and LaffyTaffy, Nestle's confectionery business in the US generated about $900 million in sales in 2016. Nestle said in a statement announcing the sale that it remains "fully committed" to its chocolate business around the world. Ferrara is the third-largest, non-chocolate candy company in the United States, created by the merger of Ferrara Pan Candy Co. and Farley's & Sathers Candy Co.in 2012.

The U.S. chocolate industry is in tumult.

Peace Efforts Can Only Resume Under International Mediation: Abbas
Ambassador to the United Nations Nikki Haley , who he said "threatens to hit people who hurt Israel with the heel of her shoe". Even so, Abbas reaffirmed his commitment to a two-state solution to the Israeli-Palestinian conflict.

Hershey has the license for KitKat in the U.S. But Nestle still owns the brand and it's not part of the Ferrero deal.

The sale to Ferrero, which does not include the Toll House brand of baking products, is expected to close around the end of the first quarter, Nestle said.

After a review of its portfolio last summer, Nestle hinted that it might sell its USA business, with its eye on higher-growth areas like pet care, coffee and infant nutrition.

In June 2017, Nestle had announced that it was exploring strategic options, including a possible sale, for its US chocolate and candy business, as the company focusing on its shift to becoming a health and nutrition company. Bloomberg notes, however, the company seems to be stepping away from candy. The business represents about 3 percent of the Swiss company's USA sales.

Related News:



Most liked

South Africa summons US diplomat to explain Trump 's...hole' comment
President Trump took the country's dialogue backwards and his comments were egregious- no matter your political persuasion. The comments were said to have come after Trump met this week with Norwegian Prime Minister Erna Solberg in Washington .

'Jumanji' remains king of the cinema jungle
The movie features Meryl Streep and Tom Hanks as publisher Katharine Graham and executive editor Ben Bradlee. The Liam Neeson-fronted action thriller topped expectations, opening to an estimated $13.5 million at No. 3.

Hyundai Veloster gets new look, lots more tech
In fact, it seems that this design change may be in anticipation of Hyundai's proper entry into performance hatchery. The Veloster N also gets unique suspension tuning that can be further enhanced with the track-focused N mode.

New Mercedes-Benz G-Class OFFICIALLY Revealed
The G's transfer case is bolted directly to this gearbox and allows you to engage low-range at speeds of up to 25 miles per hour . G-Mode activates automatically whenever low-range is engaged, or when one of the G's three differentials are locked.

Roads contractor Carillion goes bust
One of its contracts registers refers to an ICT services contract for £26m with Carillion which is due to end on March 1 2018. Carillion has around 450 public contracts but the government wouldn't step in to back the company's £1.5 billion debt pile.

Congress, BJP workers clash in Salon during Rahul Gandhi's visit
The Congress chief will thereafter go to Amethi and stay overnight at the Munshiganj guest house. Yogi said, "What are SP workers doing these days".

Qatar's overseas minister says Gulf disaster is throughout a girl
A second incident as well on Monday on Etihad flight EY23B from Abu Dhabi International Airport to Bahrain International Airport. Bahrain, one of the countries boycotting Qatar, said Emirates Flight EK837 was intercepted, its state-run news agency said.

Scarborough hijab attack 'did not happen,' Toronto police say
Toronto Police have said that the incident did not occur after many government figures came out and spoke out for the girl. The school declined further comment.

Google's Arts & Culture App Helps You Find Your Art Doppelgänger
Looking for a way to easily plan your daily social media posting, as well as collaborate seamlessly with your client ... It is also worth pointing that at the time of writing the feature was not available for iOS in India.

Stoke sign Paul Lambert before Man United
Stoke developed a habit of folding when going behind in the latter days of Mark Hughes' reign but they responded well. Antonio Valencia opened the scoring on his return from injury with a vicious strike.

Ryan Giggs appointed as Wales manager
He had four games as Manchester United boss at the end of the 2013/14 season when David Moyes was sacked. It's hardly a secret that Ryan Giggs has been looking to get into football management at some point.

Gunmen attack Libya's Tripoli worldwide airport, kill 3
Heavy gunfire and artillery could be heard from the city center and Mitiga airport said all flights had been suspended until further notice, reports a state media.

Case Keenum 'excited nervous' for first career playoff start
I firmly believe whoever wins this game will not only represent the NFC in the Super Bowl, they will hoist the Lombardi Trophy. He had two TDs and 93 yards in opener against Saints . "You can see him getting the ball to a lot of different guys".

Girl should be allowed to take medical marijuana at school: suit
Superintendent Andy DuRoss says School District 54 will abide by the law. The district would not accommodate them, the suit said. School officials say they can't do much right now.

US House passes spy program after baffling Trump tweets
As of this writing, the six year proposal to reauthorization FISA's surveillance program has passed the House with a 256-164 vote. Former FBI director James Comey, fired previous year by Trump, weighed in Thursday in support of the reauthorization.