No hacking required
Let me just reassure you. None of the stories in this newsletter have been written based on information from hacked phone messages – just in case you were wondering. Hopefully the trade press operates under slightly higher moral standards than the tabloid industry.
While the British tabloid media is falling apart, it has been a strong week for business developments in the confectionery industry. Nestlé has confirmed that it is in negotiations with China’s largest listed confectionery company, Hsu Fu Chi. The Chinese company has been pursuing strategic talks with potential confectionery partners in the market for a long time and it would help fulfil Nestlé’s ambitions to increase revenues from emerging markets to 45%, up from the current 38%, by 2020.
In the UK, Tangerine Confectionery has continued its success story as the Blackstone Group has acquired Growth Capital Partners’ 40% stake in the confectioner. This has allowed Growth Capital Partners a four-fold return for its five-year investment in the producer of Butterkist popcorn, Barratt Sherbet Fountain and Dip Dabs, Henry Goode’s soft eating liquorice and Princess Marshmallows. Maybe Hsu Fu Chi should be looking towards Tangerine if it would like a business partner in the UK.
All the best,
Katrine Kjoeller, Editor
Sweets & Snacks Europe
