Food giant Nestlé has entered into a partnership agreement with Hsu Fu Chi, a leading manufacturer and distributor of confectionery products in China, it has been announced.

Under the terms of the proposed agreement, Vevey, Switzerland-based Nestlé will acquire 60 per cent of Hsu Fu Chi, while the Hsu family will own the remaining 40 per cent.

The total value of the transaction is approximately CHF 1.4 billion (approx. €1.2 billion).

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