Nestlé reviews strategic options for US confectionery business
Nestlé plans to explore strategic options for its confectionery business in the US, including its potential sale.
The review is confined only to the US market, and it intends to complete this process by the end of this year.
This review does not include Toll House baking products, which is Nestlé’s strategic growth brand."The US is Nestlé's largest market, where it generated ZAR26.7bn ($2bn) in sales last year."
Last year, Nestlé's US confectionery business generated sales of ZAR900m ($924m), while its global confectionery sales reached ZAR8.8bn ($685m) last year.
Nestlé stated that it is committed to growing its confectionery activities across the world, especially its global brand KitKat.
The firm has nearly 51,000 employees across 120 locations across the US.
The US is Nestlé's largest market, where it generatedZAR26.7bn ($2bn) in sales last year.
Nestlé stated that it will continue to invest and expand in the country, where it operates in several categories such as bottled water, frozen meals, baby food and ice cream.