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Hershey's on its own

Ends five year old JV with Godrej.

Tags: Hershey, Godrej

June 19, 2012  |  comments ( 0 )  | 
Hershey's on its own

Hershey’s has set-up a 100 per cent subsidiary Hershey Confectionery India, indicating an end to its JV with Godrej which lasted five years. The new company was registered last month with the Registrar of Companies. Directors of the Indian counterpart have already been appointed and Richard McConville and Milton Brice shall take it forward.

IL&FS Investment Managers Ltd (IIML), the private equity arm of Infrastructure Leasing & Financial Services, is in advanced stages of negotiations to buy out The Hershey Company's stake in its joint venture with the Godrej Group.

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