Enterprise Television- Nestle Sells Crunch, Nerds And Other US Brands To Ferrero For $2.8bn
Nestle is selling its US sweets and chocolate business to Ferrero Group for 2.7bn Swiss Francs ($2.8bn; £2bn).
The Swiss food giant said it was offloading brands such as Crunch, Nerds, Runts and Butterfinger to focus on other products.
The deal is expected to go through by March this year.
Ferrero said the brands would give it “substantially greater scale” and “a broader offering of high-quality products” for US customers.
Italy’s Ferrero, which makes Nutella spread, Tic Tac and Ferrero Rocher, will become the US’s third biggest confectionery maker.