[BREAKING]  NESTLE IS SELLING IT’S CONFECTIONARY BUSINESS TO FERRERO FOR A WHOOPING $2.9BILLION.

[BREAKING] NESTLE IS SELLING IT’S CONFECTIONARY BUSINESS TO FERRERO FOR A WHOOPING $2.9BILLION.

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Tuesday, 16 January 2018
BREAKING NEWS

Nestle is selling its U.S. confectionery business to Italian chocolate and candy maker Ferrero for an estimated $2.9 billion, the company announced Tuesday.

Nestle’s American sweet treats include Nestle Crunch, Butterfinger, Baby Ruth, Raisinets, Nips and Laffy Taffy.

Nestle is selling its U.A. candy division, which includes well-known brands like Butterfinger and Baby Ruth.

Nestle’s 2016 U.S. confectionery sales were more than $935 million and represents about 3% of U.S. Nestle Group’s sales, according to the Swiss company.

“This move allows Nestle to invest and innovate across a range of categories where we see strong future growth and hold leadership positions, such as pet care, bottled water, coffee, frozen meals and infant nutrition,” CEO Mark Schneider said in a statement.

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