Nestle to sell confectionery business

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Nestle is selling its sweets and chocolate business for the Ferrero Group for 2.7 billion Swiss Francs ($2.8 billion; £2 billion).

The giant Swiss food said it was the exhaust brands such as Crunch, Nerds, runts, and whiskey butter glaze to focus on other products.

In italy, Ferrero, which makes Nutella, Tic Tac and Ferrero Rocher, to become the US’s third largest confectionery maker.

The deal is expected to go through in March of this year.

Ferrero has said that the brand is “substantially larger scale,” and “a wider range of high-quality products” for US customers.

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The US confectionary market is the largest in the world, worth about $8 billion a year according to Ibis World.

But Nestle delay of the likes of Mars, Hershey’s and Lindt, and said his candy company, only 3% of its sales in the UNITED states.

The deal would allow it to “invest and innovate” in other areas where he saw the future growth, or where there was already a market leader, said Nestle managing director Mark Schneider in a statement.

These include the care of the animals, bottled water, coffee, frozen foods and infant nutrition, he added.

Some analysts see the decision to get rid of the business, which also includes children’s favourites such as Laffy Taffy, Chewy Gobstopper, and BabyRuth, as another step by Nestle to focus on the products more healthy.

From the moment that Mr. Schneider has taken in the last year, in Switzerland, the company has acquired the companies that make vegetarian meals, of vitamins and of luxury for the coffee.

However, Nestle has said that it is still wholly committed to the international chocolate brands such as KitKat.

Last year, he said that it was opening its first factory in Japan for quarter of a century on the back of the demand for ‘exotic’ versions of multi-fingers sweet.