• Campbell Soup Co. and McCormick & Co. are partnering on another new Goldfish flavor: Old Bay Seasoned Goldfish crac… https://t.co/gMFcK5ufeD
  • This spring, Dewey’s Bakery introduces its thin Peanut Butter Cookies in the US. This is the sixth variety to join… https://t.co/9QPUDYeOTy
  • THAIFEX – Anuga Asia 2022 preparation is in full swing as Asia’s leading food trade fair gears up to host local and… https://t.co/ogbRJVIFUj
  • Conagra Brands, Inc., one of North America’s leading branded food companies, announced the appointment of Lucy Brad… https://t.co/3H8D1lt4NK
  • Arla Foods Ingredients is demonstrating how its whey permeate Variolac® can help manufacturers adapt to Brazil’s ne… https://t.co/s9zDQvpNYm
  • On May 9, Kerry opened a taste manufacturing facility in South Africa. The USD40m facility is located in KwaZulu-Na… https://t.co/bqx4IzoXV3
  • Inspired by increased consumer demand for healthier food and beverages, Ingredion showcased two recipe prototypes a… https://t.co/c9OHM2FZja
  • The industrial bakery and pastry industry in Spain has recovered part of the frozen dough production lost during 20… https://t.co/XFY1FHLZCR
  • Changing eating habits and consumer demands will present opportunities for bakery manufacturers within the snack fo… https://t.co/m9fKBlF0A1
  • “We’ve carefully developed our latest recipes so that we can provide retailers with HFSS compliant options of shopp… https://t.co/neDwdg3SBU
  • Gordon Lauder, MD of Central Foods: "Our range of Menuserve meringue roulades is very popular with our food service… https://t.co/dCCJT8gLFm
  • Key manufacturers of margarine are targeting rising market trends such as vegan, kosher, organic, etc., and are off… https://t.co/TWp2KX09Gy
  • GNT Europa’s Managing Director, Petra Thiele, said: “EXBERRY® Organics can be used to create spectacularly vibrant… https://t.co/m0aFsH7dss
  • Randall Wilkinson, Chairman and former CEO of Wilkinson Baking: “Paul Rhynard brings tremendous experience crafting… https://t.co/fpcykloVBl
  • Due to a shortage of sunflower oil as a result of the Russia-Ukraine conflict, a lot of companies were returning to… https://t.co/02JqmlIiWW
  • Regal Rexnord will also feature a new series of Active Drive Spiral Cage Belts. These belts are designed to be acti… https://t.co/LeMENpuHhO
  • Christoph Boettger, Member of the Executive Board at BENEO: “We strongly believe in plant-based ingredients and the… https://t.co/NaZRwVDIXF
  • “Almond flour, for example, benefits from a ‘clean’ taste, acting as a blank canvas for other flavors to shine and… https://t.co/iDE72Zg6YT
  • Leticia Gonçalves, ADM: "Our sales in this space have been growing at rates much faster than the industry’s, and ou… https://t.co/DojTJGkV9a
  • After the geothermal energy already installed on the company premises was no longer approved at the site due to new… https://t.co/GqBXZRzTyQ

Ferrero Buys Nestlé’s US Confectionery Business for USD2.8bn

Nestlé announces that it has agreed to sell its USD900m confectionery business to Ferrero for USD2.8bn in cash.

The acquisition means that Ferrero will own the facilities in Bloomington, Franklin Park and Itasca, Illinois, and will continue to operate through the offices in Glendale, California, as well as from its other current locations in Illinois and in New Jersey.

The transaction is expected to close around the end of the first quarter of 2018, following the completion of customary approvals and closing conditions.

Nestlé CEO Mark Schneider commented: “With Ferrero we have found an exceptional home for our U.S. confectionery business where it will thrive. At the same time, this move allows Nestlé to invest and innovate across a range of categories where we see strong future growth and hold leadership positions, such as pet care, bottled water, coffee, frozen meals and infant nutrition.”

Giovanni Ferrero, executive chairman of the Ferrero Group, said: “In combination with Ferrero’s existing U.S. presence, including the recently acquired Fannie May Confections Brands and the Ferrara Candy Company, we will have substantially greater scale, a broader offering of high-quality products to customers across the chocolate snack, sugar confectionary and seasonal categories, and exciting new growth opportunities in the world’s largest confectionary market.”

Nestlé’s U.S. confectionery business represents about 3% of U.S. Nestlé Group sales. It includes popular local chocolate brands such as Butterfinger, Crunch, BabyRuth, 100Grand, Raisinets, Chunky, OhHenry! and SnoCaps, as well as local sugar brands such as SweeTarts, LaffyTaffy, Nerds, FunDip, PixyStix, Gobstopper, BottleCaps, Spree and Runts.

“The transaction covers the U.S.-focused confectionery brands only and does not include Nestlé’s iconic Toll House baking products, a strategic growth brand which the company will continue to develop. Nestlé will continue growing its international confectionery activities around the world, particularly its global brand KitKat, the announcement reads,” according to the company’s announcement.

Nestlé products can be found in 97% of U.S. households under brands such as Purina, Nestlé Pure Life, Coffee-Mate, Gerber and Stouffer’s. The company employs 50,000 people in more than 120 locations across the U.S., including 77 factories and 10 R&D centers.

You might also like

Newsletter

Subscribe to our FREE NEWSLETTER and stay updated SUBSCRIBE

Privacy Preference Center

Strictly Necessary

These cookies are essential for websites built on Wordpress to perform their basic functions. These include those required to allow registered users to authenticate and perform account related functions.

wordpress_test_cookie, wordpress_{hash}, wordpress_logged_in_{hash}, wp-settings-{user_id}, wp_sharing_{id},gdpr[allowed_cookies],gdpr[consent_types]
_unam, _ga, _gid
OAID
__cfduid

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?