Hershey's acquired a 51% stake in Godrej Beverages and Foods Ltd. (GBFL) for Rs. 2.38 billion. As part of the deal, Hershey's will license its trademark rights to GBFL for $2 million in annual royalty payments. This provides benefits to both companies by giving Hershey's access to GBFL's existing distribution network in India to expand its market share, while GBFL can extend its product portfolio and access new markets by licensing Hershey's brands.
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