Godrej ends Hershey's JV, chief calls news speculative
The chocolaty deal between Godrej Consumers and Hershey's has reached expiry. Calling the news speculative, group chairman, Adi Godrej said, "We are looking at acquisition and we continue to focus on strong organic growth strategies."
July 06, 2011 / 17:22 IST
The chocolaty deal between Godrej Consumers and Hershey's has reached expiry. The two companies may have called off their India joint venture and the US-based chocolate and confectionery major will sell its 51% stake in JV to Godrej.
Calling the news speculative, group chairman, Adi Godrej said, "We are looking at acquisition and we continue to focus on strong organic growth strategies," he told CNBC-TV18 in an exclusive interview.Godrej Hershey (GHL) had been operating in the food and beverages space since 2007, when the two companies into a joint venture agreement to expand foothold.Don't miss: Godrej Properties sees strong growth, new projects in FY12 Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
