Confectionery industry news : Nestle has completed its previously announced $2.8 billion sale of its US confectionery business to Italian chocolate manufacturer Ferrero.

The Swiss food and beverage giant entered into the deal in January 2018 to sell its US confectionery business in a move to focus on its core products.

Through the acquisition, Ferrero will now own more than 20 Nestle US brands such as Butterfinger, 100Grand, SnoCaps, BabyRuth, Crunch Chunky and Raisinets chocolate brands, in addition to local sugar brands such as LaffyTaffy, BottleCaps, SweeTarts, Gobstopper and Nerds.

Ferrero acquisition of Nestle US confectionery business was carried out by the Italian confectioner to become the third largest confectionery manufacturer in the US.

The Italian chocolate manufacturer’s brands sold in the US are Ferrero Roche, Nutella, Tic Tac, Fannie May and Ferrara Candy.

Commenting on Ferrero acquisition of Nestle US confectionery business, Giovanni Ferrero – Executive Chairman of the Ferrero Group, said: “We are pleased to welcome Nestlé USA’s confectionary brands and its talented employees to Ferrero. This outstanding portfolio of iconic brands with rich histories and tremendous brand awareness is a strong addition to Ferrero’s growing U.S. platform, which includes the recently acquired Ferrara Candy Company and Fannie May Confections Brands.

“With our substantially increased scale and broader offering of high-quality products across the chocolate snack, sugar confectionary and seasonal categories, Ferrero is poised for continued growth in the key U.S. market.”

Ferrero acquisition of Nestle US confectionery business has also transferred ownership of Nestle’s confectionery factories in Bloomington, Itasca and Franklin Park, all located in Illinois.

Lapo Civiletti – CEO of the Ferrero Group, commenting on Ferrero acquisition of Nestle US confectionery business, said: “This is an important moment for the Ferrero Group, and we are confident that our commitment to deliver value to North American consumers and customers will be strongly enhanced by the addition of these powerful brands to our portfolio.”

  Confectionery industry news, Food acquisition news, Giovanni Ferrero, Lapo Civiletti, Nestle, The Ferrero Group, USA