Press Release: Nestle: Nestlé to explore strategic options for its US confectionery business
Nestlé S.A. / Nestlé to explore strategic options for its US confectionery business . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.
This press release is also available in Français (pdf): http://www.nestle.com/asset-library/Documents/Media/press-release/2017-June/US-Confectionery-Business-FR.pdf and Deutsch (pdf): http://www.nestle.com/asset-library/Documents/Media/press-release/2017-June/US-Confectionery-Business-DE.pdf
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.
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
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June 15, 2017 12:02 ET (16:02 GMT)- - 12 02 PM EDT 06-15-17
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