Nestle May Sell Its Confectionary Business

(RTTNews) - Nestle SA plans to sell its U.S. confectionery brands, including Butterfinger, BabyRuth and 100Grand brands, as the company plans to shift its focus towards businesses such as coffee and health care.

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

The confectionery business generated revenues of about 900 million francs or $923 million in 2016.

Nestle said that it would continue its U.S. investments in pet care, bottled water, frozen meals, infant food and ice cream.

Chocolate and sweet makers are struggling with poor sales as more and more U.S. consumers now prefer and have switched to healthy lifestyle.