Deals this week: Ferrero International, Castanea Partners, Vinasugar II

Ferrero International has announced the acquisition of Nestle’s US-based confectionery business for a cash consideration of $2.8bn.

Based in Italy, Ferrero produces and markets chocolate and bakery products, as well as snacks and drinks, while Nestle is a food and beverage company based in Switzerland.

The transaction involves the acquisition of more than 20 American chocolate, sugar, and confectionery brands, which will strengthen Ferrero’s presence in the US.

Ferrero will take over Nestle’s US-based manufacturing units located in Bloomington, Franklin Park, and Itasca, Illinois, US, as part of the transaction.

Private equity firm Castanea Partners has completed its investment in frozen Greek Yogurt producer and seller Yasso. Both the companies involved in the deal are based in the US.

The Vietnamese Ministry of Agriculture and Rural Development has announced that it will sell 63.59 million shares, representing 93% stake in Vietnam Sugarcane and Sugar Corporation II (Vinasugar II) to the public.

The Ministry expects to receive approximately VND664bn ($29.2m) through the sale, which is scheduled for 13 February.