Hershey Co. agreed to buy Barry Callebaut AG's Van Houten consumer chocolate business in Asia (Singapore), an acquisition that would give the U.S. candy maker a greater presence overseas as its seeks to diversify its mainly domestic operations. Barry Callebaut is considered the world's leading manufacturer of high-quality cocoa and chocolate products

The deal with Barry Callebaut may also signal a willingness by Hershey to continue to grow abroad via similar pacts