Mondelez has bid for US rival Hershey

Mondelez

Mondelez International, the snacks and candy group, has bid for rival US confectionery maker Hershey in $23 billion takeover attempt to buy the company behind chocolate bars, Reese’s Peanut Butter cups and Hershey Kisses… The offer comes amid speculation over Hershey’s future, including a rumour that Nestlé may also be interested in buying the company. The global food industry has been transformed in recent years as changing consumer tastes have forced companies to rethink their strategies by consolidating and cutting costs. A combination of Mondelez and Hershey would give the Deerfield, Illinois-based company 18 per cent of the global confectionery market, usurping rival Mars, and make it the second-largest packaged food manufacturer in the world, with 3 per cent of total sales…

 

James Fontanella-Khan, Lindsay Whipp and Arash Massoudi

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