Nestle to explore strategic options for U.S. confectionery business
The review covers the U.S. market only and is expected to be completed by the end of this year.
Nestlé’s U.S. confectionery business had sales of around CHF 900 million in 2016.
It primarily includes popular local chocolate brands such as Butterfinger, BabyRuth, 100Grand, SkinnyCow, Raisinets, Chunky, OhHenry! and SnoCaps, as well as local sugar brands such as SweeTarts, LaffyTaffy, Nerds, FunDip, PixyStix, Gobstopper, BottleCaps, Spree and Runts. It also comprises the international chocolate brand Crunch.
The strategic review does not cover Nestlé’s iconic Toll House baking products, a strategic growth brand which the company will continue to develop in the U.S. market. ■