Nestle eyes takeover
Source: Bloomberg News |
July 4, 2011, Monday
|
Print Edition
Print Edition
NESTLE SA, the world's largest food company, has been holding talks to buy Hsu Fu Chi International Ltd, a Chinese snack and candy maker with a market value of about US$2.6 billion, people familiar with the matter have said.
The discussions have been on and off for about two years, according to three people, who declined to be identified because the talks are private. It isn't clear whether Nestle will reach a deal, and other suitors have also been examining the Singapore-listed company, these people said.
Nestle aims to catch up with rivals such as Unilever that get a larger proportion of sales from faster-growing emerging markets. Nestle Chief Executive Officer Paul Bulcke plans to get 45 percent of revenue from developing countries by 2020, compared with about a third now.
The discussions have been on and off for about two years, according to three people, who declined to be identified because the talks are private. It isn't clear whether Nestle will reach a deal, and other suitors have also been examining the Singapore-listed company, these people said.
Nestle aims to catch up with rivals such as Unilever that get a larger proportion of sales from faster-growing emerging markets. Nestle Chief Executive Officer Paul Bulcke plans to get 45 percent of revenue from developing countries by 2020, compared with about a third now.
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