Ferrero buys Nestle' US candy business (4)

(ANSA) - Turin, January 16 - 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. Nutella maker 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.
    Reuters said that Nestle agreed to sell its U.S.
    confectionery business in "a small step on its path towards healthier products".
    The U.S. unit has been underperforming rivals for years, suffering from consumers' preference for healthier snacks like fruit and nut bars and premium brands like Lindt.
    Ferrero will become the third-largest chocolate company in the United States and the world.