Nestle Agrees To Pay $1.7B For Chinese Candy Co.

Law360, New York (July 11, 2011, 1:06 PM EDT) -- Nestle SA has struck a $1.7 billion deal to buy a controlling interest in Chinese confectioner Hsu Fu Chi International Ltd., bolstering the Swiss food behemoth's growing presence in the Asian nation, the company announced Monday.

The deal marks Nestle's latest foray into the world's most populous country. In April, Nestle, the world's largest food company, agreed to acquire Chinese food company Yinlu Foods Group. Nestle has operated in China for more than 20 years, according to the company.

"The proposed partnership will greatly reinforce our...
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