confectionery business up fore sale as the maker of Butterfinger, Nerds, Baby Ruth and Crunch candy bars grapples with changing consumer demands for healthier products.
With newly instated Chief Executive Officer (CEO) Mark Schneider at the helm, the global food giant has accelerated its aggressive push into healthier categories such as coffee, pet food, water and health sciences.
After six months, the CEO who has a background in health care, has shown how serious he is about transforming Nestle's direction amid slowing growth in the overall packaged food industry.
Jefferies analyst Martin Deboo, noting Schneider’s new-found decisiveness, says the likely buyer would be a smaller food maker or a private equity firm, yet says he would not rule out Hershey Co.
Shares of the Vevey, Switzerland-based company are trading up 1.6% on Friday morning at $85.31 per share, reflecting an 18.5% gain over the most recent 12-month period and an 18.9% return year-to-date (YTD).