1906 close joint venture

The Administrative Council for economic Defense (Cade) approved the end of the joint venture company of Hershey with the Brazilian manufacturer 1906.
According to Cade, the endorsement without restrictions, enables the sale by Pandurata, 1906 group company, 49% of its shares in Hershey Brazil to the Netherlands, a subsidiary of Hershey Hershey Company.
The joint venture had been approved by the atitruste in April 2008 for the distribution of new products manufactured by Hershey Group using the existing logistics so Brazilian's 1906.
The companies stated that reached the maximum degree of utilization of the Association, reaping its benefits and advantages possible. So, considering the current economic scenario of the country, companies "understand that would be in your best interest to end the partnership, focusing its efforts on its main activities, which would provide the maximization of the potential growth of its brands and business", says the document of Cade.
Hershey Group operates in Brazil exclusively through Hershey Brazil, which manufactures and distributes products of chocolate.
Cade's decision was published on Monday (17) in the Diário Oficial da União (GIVE).