, Columnist
Nestle, Hershey Signal Bittersweet Year for Chocolate
One exits on a high note, while the other's shares dip.
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Chocolate has kicked off 2018 on a somewhat sour note.
Nestle SA -- a name synonymous with candy despite efforts to conjure a healthier, trendier image -- is officially exiting the U.S. confectionery market. On Tuesday, the Swiss food conglomerate formalized a deal to sell brands such as Butterfinger and Baby Ruth to privately held Ferrero SpA for $2.8 billion, relinquishing its roughly 8 percent market share.1516125596019