VEVEY, Switzerland -- Nestlé said it is exploring "strategic options" for its U.S. confectionery business, including a potential sale. Nestlé's U.S. confectionery business had sales of $925 million in 2016.
The candy giant's brands include national and local chocolate brands Butterfinger, BabyRuth, 100 Grand, SkinnyCow, Raisinets, Chunky, OhHenry! and SnoCaps, along with SweeTarts, LaffyTaffy, Nerds, FunDip, PixyStix, Gobstopper, BottleCaps, Spree and Runts, as well as Crunch, and international chocolate favorite.
The strategic review does not cover Nestlé's Toll House baking products, which the Swiss company said it will continue to develop in the U.S. market.
Nestlé emphasized that it remains committed to growing its leading international confectionery activities around the world, particularly Kit Kat. Nestlé's global confectionery sales amounted to $9 billion in 2016.
With sales of $27 billion in 2016, the U.S. is Nestlé's largest market. The confectionery business represents only about 3% of U.S. sales.
Nestlé said it will continue to invest in the U.S., where it holds leadership positions in pet care, bottled water, frozen meals, infant food and ice cream. Its U.S. brands include Purina, Nestlé Pure Life, Coffee-Mate, Gerber and Stouffer's.
The company employs more than 51,000 people in over 120 locations across the U.S., including 77 factories and 10 R&D centers.