The Ferrero Group has announced a definitive agreement to acquire the U.S. confectionery business from Nestle for US$2.8 billion.
The acquisition will make Ferrero the third largest confectionery company in the U.S. A Business Wire article says Nestle’s U.S. confectionery business had sales of about US$900 million in 2016.
Ferrero will pick up more than 20 major American chocolate brands such as Butterfinger, BabyRuth and Wonka, acquires the exclusive right to the Crunchbrand for confectionary and certain categories in the U.S., and also acquires sugar brands such as SweeTarts and Nerds.
Ferrero is already well known in North America for its TicTac breath mints, Ferrero Rocher chocolates and Nutella hazelnut spread.
