Ferrero – Nestle’s billion dollar deal comes to a close
Ferrero is nearing a $2.8-billion deal with Nestle which could materialize Sunday, a news report said.
Earlier reports had said Ferrero, famous for its Tic Tac, Nutella and Ferrero Rocher brands had been in talks with Hershey and private investor groups including France’s Rhone Capital for the deal.
Nestle, also known for brands including Crunch, Butterfinger, Baby Ruth and Skinny Cow, registered sales of some 900 million Swiss francs or $900 million in 2016, accounting for about a fifth of the $8 billion confectionary market as per Ibis World.
The acquisition would place Ferrero third, in terms of output, in the candy sector in the United States behind Hershey and Mars.