Hershey takes control of Indian venture
After months of speculation, Hershey is to buy out its partner in India, taking control of a loss-making business that so far has struggled to make headway in the fast-growing market.
Hershey today (7 September) announced a deal to take full control of its Indian venture, which has been the subject of speculation for months.
Indian group Godrej Industries has admitted it could sell its stake in its local venture with Hershey, a business it described as "potentially sick".
US confectionery giant Hershey has insisted that India remains a "key focus market" amid local reports that it is close to ending its five-year partnership deal with Godrej Group.
Hershey's new president and CEO John Bilbrey today (26 July) outlined his confidence in the US confectioner's overseas operations but was coy about the future of its Indian joint venture.
The uncertainty around Hershey's venture in India has continued with its partner in the country reportedly insisting the business will continue to operate.
Indian conglomerate Godrej has refused to be drawn on reports that its local venture with US confectioner Hershey has come to an end.
- How brands are eyeing their own retail presence
- Why Lactalis could move for Dairy Crest
- Who could swoop for Diamond Foods?
- Foodservice focus - all-day breakfast; concept NPD
- The consistent inconsistency of European promos
- Nestle, R&R Ice Cream in joint venture talks
- How the food industry is reacting to TPP
- China implements new safety regulations
- Aldi reformulates US private-label lines
- Premier Foods adds to Bisto range
- Management briefing: just-food’s industry outlook for 2015
- Global Savory Snacks Market: Merger and Acquisitions August 2015
- Food and Beverage Coding and Marking Equipment: Market Outlook 2015-2019
- E-Grocery Market in India - Market Research 2015-2019
- Danone SA : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis