Nestle selling US candy business for $2.9 billion

Swiss food and drink giant Nestle is selling its U.S. candy business to Italy's Ferrero for about $2.9 billion in cash. Ferrero will take over iconic chocolate brands Butterfinger and Crunch bars, as well as the sugary Nerds, SweeTarts and FunDip.After a review of its portfolio last summer, Nestle hinted that it might sell its U.S. business, with its eye on higher-growth areas like pet care, coffee and infant nutrition.In September, Nestle announced that it bought a majority stake in Blue Bottle