Nestlé: confirms sale of US confectionery unit to Ferrero
(CercleFinance.com) - Nestlé has announced the sale of its confectionery operations in the United States to Ferrero for 2.
8 billion Swiss francs.
This business generated turnover of approximately 900 million Swiss francs in 2016. The transaction is expected to be completed towards the end of March 2018.
Nestlé's CEO, Mark Schneider, said that with Ferrero, the group has found exceptional resources for our confectionery activities in the United States. This disposal will enable Nestlé to invest and innovate in different activities where we expect strong growth, such as pet care, bottled water, coffee, frozen meals and baby food.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
8 billion Swiss francs.
This business generated turnover of approximately 900 million Swiss francs in 2016. The transaction is expected to be completed towards the end of March 2018.
Nestlé's CEO, Mark Schneider, said that with Ferrero, the group has found exceptional resources for our confectionery activities in the United States. This disposal will enable Nestlé to invest and innovate in different activities where we expect strong growth, such as pet care, bottled water, coffee, frozen meals and baby food.
Copyright (c) 2018 CercleFinance.com. All rights reserved.