Nestlé may put U.S. candy business on the block
Food giant counts Butterfinger, Raisinets and Nerds among its brands
Nestlé may sell its U.S. candy business, which makes classics like the Butterfinger candy bar, Raisinets and Nerds.
The Swiss company said Thursday it would wrap up a review of strategic options for the business by the end of this year. Nestlé said the review didn't affect its Toll House baking products in the U.S. or Kit Kat overseas.
In the United States, Kit Kat is licensed to Hershey and is not part of Nestlé's portfolio.
The company said earlier this year candy sales in 2016 were disappointing, and global pricing pressure had forced it to cut costs.
The global food giant said its candy unit represented about 3% of its U.S. sales. Nestlé also makes Purina pet food, bottled water, Stouffer's and Gerber baby foods.