Swiss chocolate and confectionery firm Nestle launched a review of its U.S. confectionery business that will examine “strategic options” including a sale amid a downward trend of sales of chocolate and candy in America, a company press release announced Thursday.
The review’s scope includes iconic U.S. brands like Butterfinger, Baby Ruth, Raisinettes, and SweeTarts, LaffyTaffy, and Nerds and the international Crunch brand. Nestle said the effort does not include Toll House baking products, which the firm called “a strategic growth brand.”
Although the U.S. is the Swiss company’s largest market, confectionery products only represent about 3% of Nestle’s sales. The company said it plans to continue investing in its U.S. operations that produce goods like ice cream, infant food, bottled water, and pet care products.
Nestle said it expects the review to reach completion in 2018.
Bloomberg noted that the review is part of a new strategy implemented by the firm’s new chief executive officer, Mark Schneider, who intends to hone in on Nestle’s strengths in high growth businesses like coffee and pet food and shift away from sluggish segments.
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