Nestle tables $1.7b offer for Hsu Fu Chi
A fund advised by Baring Private Equity Asia (BPEA) stands to make a substantial gain on its investment in Chinese confectionary company Hsu Fu Chi after Nestle tabled an offer of $1.7 billion for a 60% stake in the company. The size of the deal, which values the Chinese firm at $2.8 billion, is further proof that Nestle is committed to its goal of deriving 45% of sales from emerging markets in the next 10 years.
Hsu Fu Chi is best known for its Sachima breakfast bar and Chinese New Year candies, but also manufactures a range of candy, cereal-based snacks, cakes and traditional Chinese snacks. The company operates...
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