Rhone bids for Nestlé’s US confectionary business: Financial Times

Rhone Capital has made a binding offer to buy Nestlé’s US confectionary business, the Financial Times reported Jan. 8. First round bids for the unit were made in recent days and a decision is expected in a month, the FT said. Ferrero, of Italy, and Hershey Co have also made offers, the story said. Ferrero, which makes Nutella and Tic Tacs, has the best shot at buying Nestle’s confectionary business, the story said. Ferrero in October agreed to buy Ferrara Candy from L Catterton. Hershey last month also inked a deal to buy Amplify Snack Brands in December. Nestle’s U.S. business is valued between $2 billion and $2.5 billion, according to press reports.