Nestle confirms sale of Buitoni brand’s North American business

ZURICH (Reuters) – Nestle SA is selling the North American business of its Buitoni pasta brand to private-equity firm Brynwood Partners, the Swiss food group said on Monday.

It was confirming a report by the Wall Street Journal, which cited a person familiar with the situation as saying the deal values the Buitoni North American business at $115 million.

“Yes this is correct,” a Nestle spokesman said in response to a query about the report, giving no more details immediately.

(Reporting by Michael Shields, Editing by Timothy Heritage)