Nestle’s new plans to reshape their business and focus on new trends and consumer healthcare has led them to sell two of their iced tea brands in the U.S. The company linked up with Dunn’s River Brands to purchase the Sweet Leaf Tea and Tradewinds businesses from Nestle North America. This deal is expected to be completed by the end of the year while the company is also looking to sell their U.S. confectionery business as well. Nestle is focusing more on their core waters brands which include Poland Spring and Arrowhead.
Back in September, Nestle was making plans to intensify their focus on high growth categories such as bottled water, coffee, infant nutrition, and pet care. Recently, the company made a fourth purchase of Canadian vitamin maker, Atrium Innovations for $2.3 billion, which followed the many transactions made in recent months. The acquisition of Sweet Earth vegetarian foods, Blue Bottle coffee, and Chameleon Cold Brew coffee were also made as the company adjusts to a preference of a smaller, independent brand market. Nestle also has been cutting their operations which include cutting jobs in the skin health business. The plan to sell the U.S. confectionery business which include brands such as Crunch, 100 Grand, and Butterfinger could be valued at around $2 billion.