Nestle today (15 June) announced it plans to “explore strategic options” for its US confectionery business, including the possible sale of the Butterfinger-to-Raisinets brands.
The world’s largest food maker said the review only covers its confectionery assets in the US. The examination of its options is expected to be completed by the end of the year.
Nestle insisted it “remains fully committed to growing its leading international confectionery activities around the world, particularly its global brand KitKat”.
The Switzerland-based giant underlined the review of the US confectionery division does not cover its Toll House baking products, which it described as “a strategic growth brand” its plans to continue to develop in the market.
Nestle also said it would “continue to invest and grow in the US”, pointing to its “leadership positions” in categories including frozen meals, infant food and ice cream. The company said its US confectionery business, which generated sales of around CHF900m (US$924.8m) in 2016, accounted for about 3% of its sales in the country last year.