Hershey Buys Chinese Candy Co.

The Hershey Company’s wholly owned subsidiary, Hershey Netherlands, has acquired an 80 percent stake in the Chinese confectionery brand Shanghai Golden Monkey Food Joint Stock Co. The deal is expected to be completed by the second quarter of 2014.

Hershey has increased its investment in China over the past several years and is one of the fastest-growing confection companies in China. With this transaction, Hershey intends to build on the success of SGM’s brands but also opens a path for Hershey brands, which include Reese’s, Twizzlers and Jolly Rancher, in the region.