DEVELOPING: Nestle Sells U.S. Candy Business

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Nestle is selling its U.S. candy brands, including Butterfinger, BabyRuth and Nerds, to Ferrero, who makes Nutella.

“Nestle (NSRGY) said Ferrero will acquire more than 20 of its U.S. confectionery brands, allowing the company to focus on non-candy products from its U.S. division like pet products, bottled water, coffee, frozen food and baby nutrition.

Nestle, a massive food and beverage company based in Switzerland, is well-known for its chocolate and candy like 100Grand, Raisinets, and Crunch.”

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