An Indian private-equity firm has reportedly brushed off claims that is in talks to buy out Hershey from its joint venture in the country.
IL&FS Investment Managers told Reuters that it was “not considering an investment” in the venture, Godrej Hershey, following a local report that it was in discussions with the confectionery giant.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Economic Times newspaper yesterday reported that IL&FS and Hershey were in the “advanced stages” of discussions over a deal for the US company’s 51% stake in the venture.
When contacted by just-food, a Hershey spokesperson said the Reese’s manufacturer “does not comment on rumours or speculation regarding our business relationships”.
He added: “India is a key market for The Hershey Company, and we remain committed to driving growth in this important market. We continue to operate our business in India through our joint-venture partnership with Godrej.”
Uncertainty has grown over Hershey’s future in India in recent years. Last year, reports claimed the venture, formed in 2007, had come to an end but it remains in operation, selling products from confectionery to soy milk and cooking oil.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
