The Hershey Company, US chocolate maker, is likely to end its JV with the Godrej Group.
The company is learnt to have been negotiating a buyout in its existing stake in the JV with Godrej that was formed in 2007. The JV will end as soon as the valuation is agreed by all the parties involved. Hershey's owns 51 per cent stake in Godrej Hershey while Godrej Industries owns 43.4 per cent, and A Mahendran, director at Godrej Hershey, has the remaining stake.
The company is planning to venture ahead alone in India with a 100 per cent subsidiary Hershey Confectionery India.