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Nestle to explore sale of its US confectionery business

  • Nestle is set to explore a possible sale of its U.S. confectionery business, which includes brands like Butterfinger, BabyRuth and 100Grand.
  • The company will not be selling its Toll House brand.
  • Nestle's CEO, Ulf Mark Schneider, told CNBC in February that the food and beverage giant would be ready if the opportunity for mergers of acquisitions arose and made "strategic sense" for the brand.
Nestle chocolate products are displayed on the shelves of a Kroger supermarket in Decatur, Georgia.
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Nestle chocolate products are displayed on the shelves of a Kroger supermarket in Decatur, Georgia.

Swiss food giant Nestle may sell its U.S. confectionery business, which includes brands like Butterfinger, BabyRuth and 100Grand, among others.

The business has annual sales of 900 million Swiss francs ($922.89 million), it said on Thursday.

"Nestle will explore strategic options for its U.S. confectionery business, including a potential sale," the company said in a statement.

The sale will not include Nestle's Toll House brand, however. Nestle also said that it would continue its U.S. investments in pet care, bottled water, frozen meals, infant food and ice cream.

Nestle's CEO, Ulf Mark Schneider, told CNBC in February that the food and beverage giant would be ready if the opportunity for mergers or acquisitions arose and made "strategic sense" for the brand.

"When it comes to M&A, I think Nestle is no stranger to that," he said at the time.

"In fact some of the most strident deals of the 1980s that actually put the company on the map where it is today, as the world's largest food and beverage company, those were coming from here."