Nestlé: Ferrero could take over US confectionery division
(CercleFinance.com) - Ferrero appears to be in pole position to take over Nestlé's American confectionery business, according to Aurel BGC which cites CNBC in its daily research report.
Hershey has also submitted a final offer, although the Italian group appears to be more aggressive on the price of these assets - which could be worth between 2 billion and 2.5 billion dollars - the broker's analysts say.
In mid-2017 Nestlé said that it was "exploring strategic options" for its confectionery business in the US, which could even result in a divestiture. The scope includes brands such as Butterfinger, Chunky, OhHenry!, and even the international chocolate brand Crunch.
The confectionery division of the Swiss agri-food giant has revenues of almost 8.8 billion Swiss francs, and includes the global brand KitKat.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Hershey has also submitted a final offer, although the Italian group appears to be more aggressive on the price of these assets - which could be worth between 2 billion and 2.5 billion dollars - the broker's analysts say.
In mid-2017 Nestlé said that it was "exploring strategic options" for its confectionery business in the US, which could even result in a divestiture. The scope includes brands such as Butterfinger, Chunky, OhHenry!, and even the international chocolate brand Crunch.
The confectionery division of the Swiss agri-food giant has revenues of almost 8.8 billion Swiss francs, and includes the global brand KitKat.
Copyright (c) 2018 CercleFinance.com. All rights reserved.