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CAEN, France (AFP) — The world’s largest Nutella factory restarted production on Monday after it stopped work for five days as a precautionary measure over a “quality defect”, owner Ferrero’s French branch said. The factory in Normandy, France stopped making the chocolate-and-hazelnut spread due to a “suspected quality defect strictly limited to the production stage,” Ferrero France’s communications service told AFP. It added that the problem was “very early in the process, at the stage […]
GENEVA, Switzerland (AFP) – Nestle said Tuesday it has agreed to sell its US candy business to Italy’s Ferrero for CHF 2.7 billion ($2.8 billion/2.3 billion euros) in cash as the Swiss food giant shakes up its product portfolio. Ferrero, known for its Tic Tac, Nutella and Ferrero Rocher brands but which has traditionally preferred organic growth to acquisitions, will now be picking up Crunch, Butterfinger and Baby Ruth from Nestle. The sale will make Ferrero the third-largest confectionary […]
MILAN, Italy (AFP) — Italy’s Ferrero is closing in on a $2.8-billion deal for Nestle’s US confectionary business, Bloomberg said Wednesday, amid signs a deal could be completed by Sunday. Nestle USA registered sales of some 900 million Swiss francs (828 million euros/$900 million) in 2016, in a market worth an overall $8 billion, according to Ibis World — equivalent to around a fifth of the global market. The firms declined to comment on the […]
