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Italy's Ferrero buys Nestle's US candy business
Add BT as a preferred sourcePublished Wed, Jan 17, 2018 · 09:50 PM
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Geneva
NESTLE said Tuesday it has agreed to sell its US candy business to Italy's Ferrero for 2.7 billion Swiss francs (S$3.7 billion) in cash as the Swiss food giant shakes up its product portfolio.
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.
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