Ferrero Group Bids for Nestlé

Acquisition would make Ferrero the third-largest U.S. confectionery business.

Ferrero Group, the maker of brands such as Nutella and the Ferrero Roche chocolate-and-hazelnut bon-bons is set to buy Nestlé brands—including Crunch, Butterfinger and Kit Kat—via an auction for as much as $2 billion, according to a report in the New York Post.

Earlier this month Ferrero bought Ferrara Candy for $1.25 billion.

The acquisition of Nestlé would make Ferrero the third-largest U.S. confectionery business behind Hershey and Mars.

Ferrero’s main competition in the auction has been Hershey, which just purchased Amplify for $1.6 billion, which might mean Hershey is turning its attention elsewhere.

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