Nestlé is to acquire a 60% stake in Chinese confectionery company Hsu Fu Chi for $1.7 billion.
Hsu Fu Chi’s portfolio includes sugar confectionery, cereal-based snacks, packaged cakes and the traditional Chinese snack sachima.
The Hsu family will own the remaining 40% stake and Hsu Fu Chi’s current CEO and chairman Hsu Chen will continue to lead the company.
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