Hershey to Acquire All Outstanding Shares of the Godrej Hershey Joint-Venture

The Hershey Company (NYSE: HSY) today announced that it hasreached an agreement to acquire the 49 percent stake in Godrej Hershey Ltd.that it does not own, primarily from Godrej Industries Ltd. (“Godrej”) andanother minority shareholder. Including the assumption of about $47.6 millionin debt, which is already consolidated by Hershey as the majority shareholder,the company will own the Maha Lacto and Nutrine candy brands and the Jumpinand Sofit beverage brands as well as the related manufacturing facilities. Thetransaction is expected to close by the end of the third quarter and the newentity will transition to use the name Hershey India as it becomes a whollyowned subsidiary of The Hershey Company. As part of the transaction, theminority shareholders will receive an undisclosed cash consideration.