Nestlé to explore strategic options for its US confectionery business
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Nestlé S.A. /
Nestlé to explore strategic options for its US confectionery business
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Vevey, 15 June 2017
Nestlé to explore strategic options for its US confectionery business
Nestlé will explore strategic options for its US confectionery business,
including a potential sale. The review covers the US market only and is expected
to be completed by the end of this year.
Nestlé's US confectionery business had sales of around CHF 900 million in 2016.
It primarily includes popular local chocolate brands such as Butterfinger,
BabyRuth, 100Grand, SkinnyCow, Raisinets, Chunky, OhHenry! and SnoCaps, as well
as local sugar brands such as SweeTarts, LaffyTaffy, Nerds, FunDip, PixyStix,
Gobstopper, BottleCaps, Spree and Runts. It also comprises the international
chocolate brand Crunch.
The strategic review does not cover Nestlé's iconic Toll House baking products,
a strategic growth brand which the company will continue to develop in the US
market.
Nestlé remains fully committed to growing its leading international
confectionery activities around the world, particularly its global brand KitKat.
Nestlé's global confectionery sales amounted to CHF 8.8 billion in 2016.
With sales of CHF 26.7 billion in 2016, the US is Nestlé's largest market. The
confectionery business represents about three percent of US sales. Nestlé
products can be found in 97 percent of US households under brands such as
Purina, Nestlé Pure Life, Coffee-Mate, Gerber and Stouffer's. The company
employs over 51,000 people in more than 120 locations across the US, including
77 factories and 10 R&D centres.
Nestlé will continue to invest and grow in the US, where it has leadership
positions across a large number of categories such as petcare, bottled water,
frozen meals, infant food and ice cream. Nestlé will continue to innovate across
these categories to meet rapidly-changing consumer demand.
Contacts
Media: Robin Tickle Tel.: +41 21 924 22 00
Media Nestlé USA: Lisa Gibby Tel.: +1 (202) 292 29 28
Investors: Steffen Kindler Tel.: +41 21 924 3509
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nestlé S.A. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 15.06.2017 - 18:02 Uhr
Sprache: Deutsch
News-ID 548207
Anzahl Zeichen: 3018
contact information:
Town:
Vevey
Kategorie:
Business News
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