Nestlé Acquires Controlling Stake In Singapore-Listed, China-Based Hsu Fu Chi

Nestlé has agreed with the Hsu family to acquire 60% of Hsu Fu Chi, a Singapore-listed manufacturer and distributor of confectionery products in China. The Hsu family will retain 40% of the company, with Hsu Chen remaining as CEO and chairman of Hsu Fu Chi. Nestlé offers to buy the shares of the company's independent shareholders who account for 43.5% of the shares in Hsu Fu Chi as part of the deal, which is subject to approval by regulators in China.