The family behind Chinese snack and candy maker Hsu Fu Chi International is planning to reduce its stake in the company and enter into a joint venture with food giant Nestlé, as part of the family’s strategy to develop the group’s brand.
In a statement issued by Nestlé on 11 July, the group said it plans to acquire 60% of Hsu Fu Chi, while the Hsu family will own the remaining 40%. Nestlé will pay around €1.5 billion for the acquisition.
