Nestle may sell US confectionery business

The Nestle waters' logo at the entrance to the factory is pictured at the water production plant in Contrexeville, eastern France on May 23, 2017.
The Nestle waters' logo at the entrance to the factory is pictured at the water production plant in Contrexeville, eastern France on May 23, 2017.PHOTO: AFP

LONDON (REUTERS) - Swiss food group Nestle may sell its U.S. confectionery business, which has annual sales of 900 million Swiss francs (S$1,276.01 million), it said on Thursday.

The business includes brands like Butterfinger, BabyRuth, 100Grand, SkinnyCow and Raisinets. "Nestle will explore strategic options for its US confectionery business, including a potential sale," the company said in a statement.

The review of options does not include Nestle's Toll House baking products in the U.S. or its international confectionery business. "Nestle remains fully committed to growing its leading international confectionery activities around the world, particularly its global brand KitKat," Nestle said.

Nestle said its global confectionery sales were 8.8 billion Swiss francs (S$12.48 billion) last year.