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Nestle sells Crunch, Nerds and other US brands to Ferrero for $2.8bn

The Swiss food giant said it was offloading brands such as Crunch, Nerds, Runts and Butterfinger to focus on other products.

Italy’s Ferrero, which makes Nutella spread, Tic Tac and Ferrero Rocher, will become the US’s third biggest confectionery maker.

The deal is expected to go through by March this year.

Ferrero said the brands would give it “substantially greater scale” and “a broader offering of high-quality products” for US customers.