|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||106.00 - 107.86|
|52 Week Range||94.03 - 116.49|
|PE Ratio (TTM)||34.02|
|Dividend & Yield||2.62 (2.40%)|
|1y Target Est||N/A|
Pladis, the owner of Godiva chocolate and McVitie's biscuits, has decided not to bid for Nestle's U.S. confectionery assets, preferring to pursue a more upmarket strategy. Chief Executive Cem Karakas had earlier told Reuters the Turkish-owned company was looking at the U.S. portfolio Nestle put on the block in June, which includes regional mass-market brands such as Butterfinger, Crunch and 100 Grand and could be valued at around $2 billion. Late on Friday, Karakas said Pladis, which is owned by Turkey's Yildiz Holding, had decided to pass.
Pladis, the Turkish company that owns Godiva chocolate and McVitie's biscuits, is considering making an offer for Nestle's U.S. confectionery assets, which could be valued at around $2 billion, as part of its international expansion plans. "We are looking at Nestle's confectionery assets in the U.S.," Chief Executive Cem Karakas told Reuters. A bid for Nestle's U.S. portfolio -- which includes regional mass-market brands such as Butterfinger, Crunch and 100 Grand -- would appear to be a shift from Pladis's stated strategy of focusing on the high end of the market, which is performing better than mid-tier brands.
Hershey Co NYSE:HSY