Nestlé has completed its acquisition of the remaining 40 percent of Hsu Fu Chi, a Chinese confectionery company, from the founding Hsu family. After acquiring 60 percent in 2011 for $1,7 billion, Nestlé now has full control.
The transaction will give Hsu Fu Chi easier access to Nestlé's global resources, including brands and products. Nestlé will leverage Hsu Fu Chi's distribution network to expand its snacks and confectionery business in China. Zhang Xiqiang, CEO of Nestlé Greater China, said the acquisition combines Hsu Fu Chi's efficiency with Nestlé's innovation capabilities, accelerating the brand's development.
The Chinese company, founded in 1992 by the Hsu family from Taiwan, has a production base in Dongguan. Nestlé, which has been present in China for nearly 40 years, operates 23 factories, 5 innovation centers and 3 research and development centers, employing more than 21.000 people. The acquisition demonstrates Nestlé's long-term commitment to the Chinese market and strengthens its ability to grow its brand portfolio. In 2024, Nestlé's revenue from operations in China reached 4,97 billion Swiss francs (5,51 billion US dollars).
