SINGAPORE (Apr 13): Chocolate confectionery company Delfi is acquiring a perpetual and exclusive license to the Van Houten brand of chocolate and cocoa products from Hershey Singapore, which is part of The Hershey Company, and Barry Callebaut AG for US$13 million ($17 million).

Delfi’s wholly owned subsidiary, PT Perusahaan Industri Ceres, has been the sub-licensee for the Van Houten brand in Indonesia for the past nine years.

Under the novation and assignment agreement signed with Hershey and Barry Callebaut, Delfi will control the rights to the Van Houten brand name in key markets in Asia. The rights were previously acquired by Hershey from Barry Callebaut, the owner of the Van Houten brand, in 2009.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook