Nestle says sells US candy business to Ferrero for $2.9 bn
Nestle
Geneva - Muslimchronicle
Nestle said Tuesday it has agreed to sell its US candy business to Italy's Ferrero for CHF 2.8 billion ($2.9 billion, 2.4 billion euros) in cash as the Swiss food giant shakes up its product portfolio.
Nestle's chief executive Mark Schneider said the deal "allows Nestle 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."
Source: AFP
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