Hershey Netherlands B.V. has signed an agreement to acquire an 80% stake in Chinese confectionery and snack firm Shanghai Golden Monkey Food Company (SGM) - and the remaining 20% in 2015.
Hershey has committed to purchasing 100% traceable and sustainably-sourced palm oil by the end of 2014. Greenpeace has welcomed the move, but has reservations about timelines and terminology.
The Hershey Company will make its single largest investment in Asia with a new factory in Malaysia, a country the firm says gives it a strong route to 25 markets in the region, including China.
The Hershey Company has agreed a deal to buy Godrej Industries 49% stake in the two companies’ Indian joint venture and has announced plans to set up its own subsidiary: Hershey India