Chocolate and confectionery maker, The Hershey Company
is said to be entering the Indian market by acquiring
a stake in Godrej Beverages and Foods (GBFL).
said Hershey''s had acquired a 51 per cent stakes in GBFL,
by buying the 40 per cent stakes held by IL&FS. The
remaining stake is expected to be acquired from Godrej
Industries and A Mahendran, managing director, GBFL, who
holds a stake in the company. After the acquisition, Mahendran
and Godrej Industries'' stake in GBFL will together come
down to 49 per cent.
with a turnover of about Rs400 crore is present in categories
like juices, soya foods, tomato puree and bakery fats
with brands such as Sofit, Xs and Jumpin. GBFL acquisition
of confectionery brand Nutrine has a significant presence
in the confectionery category in India. Post acquisition,
Hersheys is likely to tap this distribution network to
introduce its own brands in India.
US accounts for almost all of Hershey''s sales which have
been slowing down in the past couple of years. Some of
Hershey''s best known
brands are Hershey''s, Reese''s, Hershey''s Kisses and Ice
Breakers. Apart from this, it also has a presence in categories
such as chocolate drink mixes, baking ingredients, dessert
toppings and beverages.