Italian confectionery giant
Ferrero on Tuesday bought the US sweets business of Swiss-based
multinational Nestlé for $2.8 billion in cash.
In 2016 Nestle's US operations generated a turnover of around
$900 million.
Ferrero will get more than 20 historic American brands,
including iconic chocolate brands including Butterfinger,
BabyRuth, 100Grand, Raisinets and Wonka.
It will also get exclusive rights on the Crunch brand in the
US as well as on candy brands SweeTarts, LaffyTaffy and Nerds.
Ferrero, which makes Nutella, Ferrero Rocher, Tic Tac and
Kinder, beat US chocolate group Hershey in the contest to buy
Nestle's US chocolate business.
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