In an effort to reinforce its presence in China, Nestle has entered into a partnership agreement with the Chinese confectionery company Hsu Fu Chi. Under the proposed agreement, Nestle intends to acquire 60% of Hsu Fu Chi, and the Hsu family will own the remaining 40%. Hsu Fu Chi's current ceo and chairman, Hsu Chen, will continue to lead the company in the new partnership. Nestle ceo Paul Bulcke says the deal demonstrates his company's long-term commitment to China, and enhances its ability to grow Nestle's portfolio of international and local brands in the dynamic market.
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