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Jun, 16 2017

Nestle to explore strategic options for its US candy business

The company said earlier this year that candy sales in 2016 were disappointing, and global pricing pressure has forced it to cut costs

Swiss- based food giant, Nestle is considering a sale of its US candy business, which makes classics like the Butterfinger candy bar, Raisinets and Nerds.

The company said that it will wrap up a review of strategic options for the business by the end of 2017. Nestle says the review doesn't affect its Toll House baking products in the U.S. or Kit Kat overseas.

In the United States, Kit Kat is licensed to Hershey and is not part of Nestle's portfolio.

Earlier this year, the company said that candy sales in 2016 were disappointing, and global pricing pressure has forced it to cut costs.

According to the global food giant, its candy unit represents about 3 percent of its US sales. 

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