As Nestle announced, they agreed to sell its US confectionery business to Ferrero for USD 2.8 billion in cash. The transaction is expected to close around the end of the first half of 2018 following the completion of customary approvals and closing conditions.
The transaction covers the US-focused confectionery brands only and does not include Nestlé’s iconic Toll House baking products, a strategic growth brand which the company will continue to develop. Nestlé remains fully committed to growing its leading international confectionery activities around the world, particularly its global brand KitKat.
The official announcement of Nestle can be found here.