INDIA/US: Godrej Beverages to form Hershey venture
Indian consumer goods group Godrej Beverages and Foods is to form a local joint venture with US confectionery giant The Hershey Co.
The two companies said today (3 April) that the venture would produce and distribute confectionery, snacks and beverages across India.
Adi B. Godrej, chairman of The Godrej Group, the Indian company's owner, said: "We look forward to developing a broad portfolio with a focus on variety, innovation, quality and value."
Hershey will take a 51% stake in the venture, which will enjoy annual sales of US$70m. The venture will seek to leverage Godrej's distribution network in India, where the company sells to around 1.6m outlets.
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