Beijing: Global food and drink company Nestle has acquired the remaining 40% stake in Chinese confectionery company Hsu Fu Chi from the founding Hsu family, giving it full ownership of the brand as part of efforts to expand its footprint in the rapidly growing Chinese snack market.
The Swiss food giant, known for its KitKat and Milkybar brands, initially purchased a 60% stake in Hsu Fu Chi in 2011 for US$1.7bil.
