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Nestle considering sale of U.S. confectionery business
Nestle said it remains committed to its global confectionery business.
VEVEY, SWITZERLAND — Nestle S.A. announced June 15 it is undertaking a strategic review of its U.S. confectionery business. One option under consideration is a sale of the business, according to the company.
Nestle's U.S. confectionery unit features such brands as Butterfinger, BabyRuth, Skinny Cow, Raisinets and others, and generates approximately $922 million in annual revenues. The company added that the strategic review does not include Nestle's Toll House baking products business.
"Nestle remains fully committed to growing its leading international confectionery activities around the world, particularly its global brand KitKat," the company said.
Nestle's global confectionery sales were 8.8 billion Swiss francs ($9 billion) in 2016.
In 2016, Nestle ranked fifth in U.S. confectionery market share with 4.5% of the market, according to data from Nielsen for the 52 weeks ended Oct. 8, 2016. Category leaders included The Hershey Co. (31%), Mars Inc. (29.1%), Mondelez International (5.3%) and Lindt/Ghirardelli (5.3%).
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