Nestle sells U.S. candy unit to Nutella maker Ferrero for $2.8 billion in push toward healthier foods

Nestle SA agreed to sell its U.S. confectionery unit to Ferrero SpA, the Italian maker of Nutella, for US$2.8 billion, in the first substantial step away from the candy industry by the company that invented milk chocolate.

The sale of the unit, which includes the Butterfinger and Baby Ruth brands, is also the first major divestment by the Swiss food giant since Chief Executive Officer Mark Schneider took the helm last year. Nestle plans to focus on healthier and faster-growing categories...

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