Nestlé wants to sell its U.S. candy business
By Canadian Packaging staffGeneral Nestle SA
Nestlé wants someone to lay a hand on its Butterfinger, as Nestlé SA wants to sell is American confectionary business segment.
Nestlé SA has put its U.S. candy business up for sale, as it wants to focus its attention on American consumers’ increasing demand for healthy snacks, as well as segments involving coffee, pet food, water and health sciences.
Sale for the candy segment is valued at US$3-billion. The Swiss-based Nestlé’s American candy business generated about 900 million Swiss francs (US $922 million) in sales last year, or three per cent of its total U.S. sales.
Nestlé is considered to be the No. 3 confectioner in the world by market share (behind Mars Inc., and number two Mondelez International Inc., and ahead of No. 4 in the U.S. behind Hershey Co.).
The U.S. is Nestlé’s largest market overall, with annual sales of about $27 billion, 51,000 employees and 87 factories. It owns many well-known brands such as DiGiorno pizza, Lean Cuisine, Haagen-Dazs ice cream and Gerber baby food.