IL&FS Investment Managers could regain ownership of Hershey, Godrej joint venture

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IL&FS Investment Managers could be about to regain ownership of the Hershey Company’s joint venture with the Godrej Group by buying out the chocolate company’s 51 per cent equity stake.

Hershey bought a 40 per cent stake in the joint venture from IL&FS in 2007 for a reported $60m but it is believed the pairing is about to break due to different opinion about strategy.

Godrej Consumer Products was reported as being interested in buying the 51 per cent Hershey’s stake last July so it could drive growth in confectionery and drinks in India.

But it is believed Hershey was keen to focus solely on the chocolate business in the emerging market to take on competitors such as Nestle and Cadbury.

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