It was just last December that news broke of Nestle trying to sell off its U.S. confectionery unit, and while it seemed that Hershey’s might be the favorite to buy its rival’s popular chocolates, an unexpected player has swooped in, and looks to be crossing the T’s and dotting the I’s on a deal.
Ferrero — yes, the Italian company that makes Nutella and those delicious little hazelnut Ferrero Rocher chocolates — is closing in on a $2.8 billion acquisition of Nestle U.S., according to Bloomberg.
We could hear official news of the sale as soon as Sunday, and would seemingly help both companies, as Ferrero wants to build its confectionery presence in the U.S., while Nestle is trying to back off and focus more on its coffee, drinks, and basically every other product that is not candy-related.
Ferrero’s impending purchase of Nestle U.S. is huge news, if only for the prospects of having Nutella infused in some of our favorites sweets, such as Crunch, and even Butterfinger bars.
If Ferrero wants to dominate the chocolate world, and throw Nutella on everything, we won’t be mad at them. Do your thing, Ferrero.