Food, Candy | featured news

Hershey's fourth-quarter profit rose 5.4% as the candy maker posted higher revenue and saw strength in all of its categories.

The Swiss food giant Nestle SA has offered to buy 60% of Chinese snacks and candy company Hsu Fu Chi International for 2.1 billion Singapore dollars ($1.7 billion). The world’s largest food company agreed to pay S$4.35 ($3.56) for each share of Singapore-listed Hsu Fu Chi, an 8.7% premium on Friday’s closing price.

The Hershey Company says it is raising wholesale prices by 9.7% on most of its candy products.

U.S.-based Kraft Foods Inc and Britain's Cadbury Plc are close to sealing a friendly deal to create the world's largest confectionery group for up to 11.7 billion pounds ($19 billion), sources familiar with the matter said on Monday.

Hershey Co (HSY.N), maker of Reese's peanut butter cups candy, reiterated on Thursday that it does not buy peanut butter or other products from a company at the center of a major salmonella outbreak.