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BREAKING NEWS

Nestle expects to sell U.S. confectionery business in first quarter

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Nestle expects to sell U.S. confectionery business in first quarter

Nestle expects to sell U.S. confectionery business in first quarter
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LONDON (Reuters) – Nestle <NESN.S> expects to sell its U.S. confectionery business in the first quarter of 2018, following a review launched earlier this year.

Nestle said in June it was exploring strategic options for the business, which includes Butterfinger and BabyRuth.

The review was limited to the United States, where Nestle is No. 4 behind Mars, Hershey <HSY.N> and Mondelez International <MDLZ.O>.

“Our strategic review has led to us deciding to divest the business and a robust sale process is currently underway which we expect to conclude in Q1 2018,” a spokeswoman said on Thursday.

(Reporting by Martinne Geller; Editing by Elaine Hardcastle)

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