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Ferrero Closing in On Deal for Nestle’s US Candy Business

January 10, 2018
Ferrero is closing in on a deal to buy Nestle's U.S. confectionery unit. Image courtesy of Flickr user joelogon
Ferrero is closing in on a deal to buy Nestle's U.S. confectionery unit. Image courtesy of Flickr user joelogon

Italian confectionery and chocolate firm Ferrero Group is closing in on a $2.8 billion deal to purchase Nestle’s U.S. confectionery and chocolate business, including iconic brands like Butterfinger and Nerds, according to reports published Wednesday by Bloomberg and the Financial Times.

The firms may sign an agreement as soon as this Sunday, an unnamed source with knowledge of the situation told Bloomberg.

Ferrero emerged as the victor of an auction of the Nestle business against The Hershey Company and Rhone Capital, several unnamed sources told the Financial Times.

As Powder & Bulk Solids reported in June, the Swiss food giant announced it was examining “strategic options” for the business, including a sale, amid a downward trend of sales of chocolate and candy in America.

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