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.
- On the money: Unilever shifting into growth spots
- On the money: Danone denies strategy overhaul
- Why whole sector should take heed of meat scrutiny
- The just-food interview: Premier Foods CEO Darby
- On the money: Hershey confident in NPD pipeline
- Chobani bid for fresh UK appeal rejected
- Kellogg to close US snack plant
- Danone takes Mars yoghurts into more markets
- Tyson sells Mexico, Brazil ops to JBS
- Danone UK ad banned over unauthorised claims