Nestle and Hsu Fu Chi agree sweet deal

Nestle agrees to pay $1.7 billion to forge a partnership with Singapore-listed confectionery major Hsu Fu Chi as it seeks to strengthen its business in China.

Nestle and Hsu Fu Chi agree sweet deal

Nestle will buy 60% of Chinese confectionery company Hsu Fu Chi International for S$2.07 billion $1.7 billion as it seeks to strengthen its foothold in China. The founding family of the Chinese confectionery company will continue to own the remaining 40% and manage the company.

Nestle’s chief executive officer Paul Bulcke is aiming to boost revenues from emerging markets to 45% of its total by 2020, up from around one-third currently. In April this year,...

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