Godrej eyes Hershey chocolate

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New Delhi: FMCG player Godrej is planning to enter into the chocolate business through its joint venture with US-based Hershey, as a part of their strategy to increase the product offering in the domestic market.

The joint venture, Godrej Hershey sells food and confectionery items in India. While the Indian partner holds 49 percent stake in the firm and 51 percent is held by the US Company.

“The company (Godrej Hershey) is planning to get into the chocolate business, which is the main business Hershey’s has all over the world,” Godrej Industries Ltd., chairman Adi Godrej said during the company’s latest investor conference call on May 28.

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