The sales process is robust and the Swiss KitKat maker expects to reach a sale in the first quarter of 2018.
Nestle is expected to sell its U.S. confectionery business in the first quarter of 2018, following a review launched earlier this year as part of efforts to improve performance at the world’s largest packaged food company.
The sales process is robust and the Swiss KitKat maker expects to reach a sale in the first quarter of 2018.
Nestle has made a definite decision to proceed with the divestment after completing its strategic review.
Nestle has stressed that its decision to sell the U.S. confectionery business is more about its weak competitive position rather than chocolate being unhealthy.
Nestle had been exploring strategic options for the more than $900 million per year business, which includes Butterfinger and BabyRuth.
Nestle has been trying to make itself into a “nutrition, health and wellness” company by reducing sugar, fat and salt in its products and moving into health-related businesses. Earlier this month, it announced a deal to buy Canadian vitamin maker Atrium Innovations.
