Trademagazin > News and articles > Company and Personal News > Nestlé buys a Chinese confectionery manufacturer for 1.7 billion USD
Nestlé buys a Chinese confectionery manufacturer for 1.7 billion USD
The Swiss Nestle buys the 60 percent of the Chinese Hsu Fu Chi candy manufacturer for 1.7 billion USD. This purchase will be the largest acquisition of Nestlé in China.
The world's largest food company aims to get share from the rising demand in the world's most populous country.
Hsu Fu's profit for 2010 was 602.2 million yuan (93 million USD), which means a 31 percent growth. Revenue was 4.31 billion yuan, which is a 14 percent growth.
The acquisition is helped by the Credit Suisse – writes tozsdeforum.hu, after Bloomberg.
Related news
More related news >
Related news
Conscious eating – smart choices matter, not strict rules
Consumers still do not feel that the pressure of high…
Read more >Children’s future is at stake now – you can vote in 198 Tesco stores
In 198 Tesco stores across the country, customers can vote…
Read more >