Nestle expects to sell U.S. confectionery business in first quarter

Food and Beverage Reuters

Nestle candy products are displayed the company's news conference in New York October 22, 2010.

Nestle expects to sell its U.S. confectionery business in the first quarter of 2018, following a review launched earlier this year.

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Nestle said in June it was exploring strategic options for the business, which includes Butterfinger and BabyRuth.

The review was limited to the United States, where Nestle is No. 4 behind Mars, Hershey and Mondelez International.

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“Our strategic review has led to us deciding to divest the business and a robust sale process is currently underway which we expect to conclude in Q1 2018,” a spokeswoman said on Thursday.