On Tuesday, 16th of January 2018, Swiss food group, Nestlé announced that it has agreed to sell its US sweets and chocolate business to Italy’s Ferrero for a whopping amount of $2.8 billion. “With Ferrero we have found an exceptional home for our U.S. confectionery business where it will thrive. Nestlé’s U.S. confectionery business represents about three percent of U.S. Nestlé Group sales. It includes popular local chocolate brands such as Butterfinger, Crunch, BabyRuth, 100Grand, Raisinets, Chunky, OhHenry! According to Euromonitor, the United States accounts for nearly 19 percent of a global chocolate market worth $102.3 billion at retail.

Source: The North Africa Journal January 17, 2018 15:00 UTC