Deals
Nestle Considers Selling U.S. Chocolate Business
- Company plans strategic review as U.S. chocolate demand falls
- Move would be first big strategic shift by new CEO Schneider
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Nestle SA may sell Butterfinger, BabyRuth and other U.S. confectionery brands as its new leader responds to sluggish demand for chocolate with a shift toward faster-growing businesses such as coffee and health care.
A sale of the U.S. sweets unit, with revenue of about 900 million francs ($923 million) in 2016, would be the first major strategic decision by Mark Schneider, who became the Vevey, Switzerland-based company’s chief executive officer this year after a career in medical products and pharmaceuticals.