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Italy's Ferrero buys Nestle's US candy business

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...

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