Nestle and Colgate Enter Joint Venture for 'Functional Confectionary'

In a newly announced 50:50 joint venture, Nestle, the world's largest food group, and Colgate, a leader in oral care, will combine forces to pursue the functional confectionary category.

According to the Wall Street Jounal, this market is growing at over 5% a year, twice the rate of standard products, and generates global sales of about $10 billion, or 10% of the total sugar and chocolate candy market. Also according to the Journal, before agreeing to the deal, Colgate was testing Colgate Dental Gum, intended to reduce plaque and clean teeth, and this product will now become the new venture's first product.

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