Nestle to sell United States candy business to Nutella maker Ferrero

Ferrero and Nestle confectionery

Ferrero and Nestle confectionery

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

Ferrero, known for its Tic Tac, Nutella and Ferrero Rocher brands but which has traditionally preferred organic growth to acquisitions, will now be picking up Crunch, Butterfinger and Baby Ruth from Nestle.

But the good news for the Derry Twp. -based company, others say, is that it will permit the company to continue to focus its own capital on diversifying its snack lines at a time when less-sugary treats are gaining favor with consumers.

Pochettino: Kane will break all Premier League and England records
When you have these sorts of players in fine form, as a striker myself, it is just about getting in the right place at the right time.

Encompassing over 20 brands like Butterfinger, Nerds, and LaffyTaffy, Nestle's confectionery business in the USA generated about $900 million in sales in 2016.

Even though its candy sales reached about $900 million in the 2016, confections make up a small part of Nestle's USA sales, which totaled almost $28 billion the same year, according to the company.

Nestle's U.S. confectionery business represents about three percent of U.S. Nestlé Group sales.

Kia Forte revealed: Fresh looks, better fuel economy and more tech
Inside the auto a large touchscreen sits at the centre of the dashboard and soft-touch material has been used across the interior. In addition to the sportier styling, the third generation 2019 Forte also introduces a new Intelligent Variable transmission .

Ferrero will acquire Nestle's USA manufacturing facilities in IL. The company said it will remain committed to its global confectionery brands like KitKat.

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.

Nestle CEO Mark Schneider said: "With Ferrero we have found an exceptional home for our USA confectionery business where it will thrive".

Two rape minor girl's corpse for hours in Haryana
The 15 year old girl, who was missing since last weekin Haryana, was found dead with horrific signs of torture on her body. Panipat police chief Rahul Sharma told AFP that two men, both neighbours of the victim, had been arrested over the crime.

Closely held Ferrero has been pushing harder into the U.S. a year ago it snapped up Ferrara Candy Co., the maker of Red Hots and Lemonhead sweets, as well as confectioner Fannie May. The business represents about 3 percent of the Swiss company's US sales.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.