Nestle is selling its U.S. confectionery business to Italian chocolate and candy maker Ferrero for an estimated $2.8 billion.

Nestle's American sweet treats include Nestle Crunch, Butterfinger, Baby Ruth, Raisinets, Nips, Skinny Cow and Laffy Taffy.

Nestle's 2016 U.S. confectionery sales were about $900 million and represent about 3 percent of U.S. Nestle Group's sales.

Nestle is the world's largest food company, according to the 2017 Forbes Global 2000.  Here's more from the USA Today.