Ferrero wins auction of Nestle’s U.S. candy business: Financial Times

Ferrero has won the auction of Nestle’s U.S. confectionary business, beating out rivals Hershey and Rhone Capital, according to the Financial Times. Ferrero is set to sign a $2.8 billion deal to buy the Nestle business on Sunday, the FT said. Ferrero in October agreed to buy Ferrara Candy from L Catterton.