Butterfinger, Baby Ruth and Pearson Sold to Nestle Foods
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NEW YORK — RJR Nabisco Inc. has completed the $370-million sale of its Baby Ruth, Butterfinger and Pearson candy businesses to Nestle Foods Corp., the two companies said today.
The deal, announced last October, will leave RJR Nabisco with Lifesavers and two gum lines, Carefree and Bubbleyum, as the sum of its candy businesses.
Nestle, whose candy line-up includes Crunch, Raisenettes, Bit-O-Honey and Chunky, will add to its product roster the nation’s 10th and 15th most popular candy bars--Butterfinger and Baby Ruth, respectively--as a result of the deal. Pearson is a hard candy line.
RJR Nabisco, which underwent a record $24.9-billion leveraged buyout last year, has sold off food assets totaling $5.5 billion, including its Del Monte food businesses and Chun King Oriental line.
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