On the Street - Hershey Buys Van Houten
March 11/M2 EquityBites -- The Hershey Company bought 100% of consumer products company Van Houten Singapore from Barry Callebaut effective February 28, 2009.
No financial details of the transaction, announced on March 11, 2009, were disclosed.
The deal is part of divestiture plans of Barry Callebaut and will allow the company to focus on its activities with industrial and gourmet customers in the region.
Under the terms of the deal, Barry Callebaut will retain ownership of the traditional Van Houten brand and will grant Hershey a perpetual, exclusive licence of the Van Houten brand name and related trademarks in Asia-Pacific, the Middle East, Australia and New Zealand for consumer products.
From the March 16, 2009, Prepared Foods E-dition