The uncertainty around Hershey’s venture in India has continued with its partner in the country reportedly insisting the business will continue to operate.
The consumer products division of Indian conglomerate Godrej is said to have brushed off claims in the country that its four-year venture with US chocolate maker Hershey had come to an end.
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“The JV is continuing. There is no doubt about that,” A. Mahendran, the MD of Godrej Consumer Products, told Reuters yesterday (6 July).
The Reuters report followed claims by India’s The Economic Times newspaper that Godrej and Hershey had agreed to end their venture, which was set up in 2007. The Economic Times said Hershey planned to sell its 51% stake in Godrej Hershey and set up in the country through a wholly-owned subsidiary.
Godrej had declined to comment on the report in The Economic Times yesterday when contacted by just-food. The company did not respond to request for comment today.
Officials at Hershey could not be reached for comment.
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