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Nestlé may put US candy business on the block

New York - Nestle may sell its US candy business, which makes classics like the Butterfinger candy bar, Raisinets and Nerds.

The Swiss company said that it will wrap up a review of strategic options for the business by the end of this year. Nestle said the review doesn't affect its Toll House baking products in the US or Kit Kat overseas.

In the United States, Kit Kat is licensed to Hershey and is not part of Nestle's portfolio.

The company said earlier this year that candy sales in 2016 were disappointing, and global pricing pressure has forced it to cut costs.

The global food giant says its candy unit represents about 3% of its US sales. Nestle also makes Purina pet food, bottled water, Stouffer's and Gerber baby foods.

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