Nestle may put US candy business on the block

Nestle had previously described the USA business as "disappointing".

Swiss chocolate and confectionery firm Nestle launched a review of its US confectionery business that will examine "strategic options" including a sale amid a downward trend of sales of chocolate and candy in America, a company press release announced Thursday.

Nestle's global confectionery sales were 8.8 billion Swiss francs ($9 billion) in 2016.

Nestle has said it plans to compete the review by the end of 2017. "It became clear that Nestle is too small in confectionery in the U.S".

Nestle has been investing heavily in a health-science unit since 2011 and has said it aims to make a $10 billion business out of it, trying to develop food-related products to prevent ailments such as obesity, metabolic problems and Alzheimer's disease. The U.S. business has been particularly hard-hit amid fierce competition.

"Nestle remains fully committed to growing its leading worldwide confectionery activities around the world, particularly its global brand KitKat", the firm said. The review would also comprise the worldwide rights for the Crunch chocolate brand, but won't incorporate Nestle's Toll House baking products, which the Big Food maker says remains a strategic growth brand in the U.S.

  • Zachary Reyes