Hershey Picks Up Chinese Candy Co. In $584M Deal

Law360, New York (December 19, 2013, 12:52 PM EST) -- A unit of The Hershey Co. will dole out RMB 3.5 billion ($584 million) to take over privately owned confectionery company Shanghai Golden Monkey Food Joint Stock Co. Ltd., expanding the global candymaker's reach in China, the company said Thursday.

Under the terms of the deal, Hershey Netherlands BV will pay RMB 3 billion in cash and assume net debt of RMB 522.2 million, according to a statement.

SGM will continue to operate as a stand-alone company under Hershey International Inc., allowing Hershey to dive deeper...
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