Hershey’s Purchased Golden Monkey

By CnAgri2014-02-10 09:52:32 Print Hershey’s, the chocolate Titan announced on 19th December it would purchase 80% shares in Golden Monkey, a private confectionary company in China. Hershey’s (Netherlands) and Shanghai Golden Monkey Food Co., Ltd. signed an agreement and the acquisition shall be divided into two steps. Hershey’s shall get 80% ownership of Golden Monkey at mid 2014 and 100% ownership one year after. However the acquisition waits to be approved by relevant supervisory bodies and the board of directors of Golden Monkey. In order to merge Golden Monkey, Hershey’s shall pay for 3.021 billion yuan cash and take over 522.2 million yuan net debt.

From “China Sugar Market Monthly Report”