Source: Google

Nestle is in talks to sell some of its New Zealand candy brands like Mackintosh’s toffees and Black Knight licorice. The candy brands are being sold to Australia’s Quadrant Private Equity which is one of the biggies in food companies. As said in Nestle’s statement, it is looking to focus on its major chocolate, baking and medicated lozenge brands in New Zealand. In January Nestle agreed to sell its U.S confectionary business to Italy based Ferrero for $2.8 billion. It is said that up to 55 jobs out of 270 would be lost at its Wiri factory.

Source: Reuters

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