Nestle Selling US Candy Business for $2.8 Billion - NBC Bay Area
National & International News
The day’s top national and international news

Nestle Selling US Candy Business for $2.8 Billion

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

    processing...

    NEWSLETTERS

    Nestle Selling US Candy Business for $2.8 Billion
    Getty Images/Justin Sullivan
    File photo - Nestle Crunch candy bars are displayed on a shelf at a convenience store on February 18, 2015 in San Francisco, California.

    Swiss food and drink giant Nestle is selling its U.S. candy business to Italy's Ferrero for about $2.8 billion in cash. Ferrero will take over iconic chocolate brands Butterfinger and Crunch bars, as well as the sugary Nerds, SweeTarts and FunDip.

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

    In September, Nestle announced that it bought a majority stake in Blue Bottle Coffee, a high-end coffee company. Other Nestle brands include Purina, Gerber and Stouffer's.

    Nestle, based in Switzerland, says its U.S. candy business accounts for about 3 percent of its U.S. division's sales.

    Do Not Eat Any Romaine Lettuce: Health Officials

    [NATL] Do Not Eat Any Romaine Lettuce: Health Officials

    Health officials in the U.S. and Canada are urging people to stay away from all romaine lettuce and products after 32 people in 11 states were sickened by an E. coli outbreak.

    (Published 6 hours ago)

    The deal is expected to close at the end of the first quarter.