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The Hershey Company

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This article is about the chocolate manufacturer. For the ice cream company also known as Hershey's, seeHershey Creamery Company.For other uses, seeHershey's.

The Hershey Company
Hershey's
Formerly
  • Hershey Chocolate Co. (1894–1927)
  • Hershey Chocolate Corporation (1927–68)
  • Hershey Foods Corporation (1968–2005)
Company typePublic
ISINUS4278661081
IndustryFood processing
PredecessorLancaster Caramel Company
FoundedFebruary 8, 1894;130 years ago(1894-02-08)(as Hershey Chocolate Company) inLancaster, Pennsylvania,U.S.[1]
FounderMilton S. Hershey
Headquarters
19 E. Chocolate Avenue,Hershey, Pennsylvania
,
U.S.
Number of locations
19 plants[2](2022)
Area served
Worldwide
Key people
BrandsList of The Hershey Company brands
RevenueIncreaseUS$8.97 billion[5](2021)
IncreaseUS$2.04 billion[5](2021)
IncreaseUS$1.48 billion[5](2021)
Total assetsIncreaseUS$10.41 billion[5](2021)
Total equityIncreaseUS$2.76 billion[5](2021)
OwnerHershey Trust Company(minority owner but owns the majority of the voting stock)
Number of employees
16,620 (Full-time)[5](2021)
Websitethehersheycompany

The Hershey Company,often called justHersheyorHershey's,is an Americanmultinationalconfectionery company headquartered inHershey, Pennsylvania,which is also home toHersheyparkandHershey's Chocolate World.The Hershey Company is one of the largestchocolatemanufacturers in the world; it also manufactures baked products, such as cookies and cakes, and sells beverages likemilkshakes,as well as other products (throughmergers and acquisitions). The Hershey Company was founded byMilton S. Hersheyin 1894 as theHershey Chocolate Company,originally established as a subsidiary of hisLancaster Caramel Company.TheHershey Trust Companyowns a minority stake but retains a majority of the voting power within the company.[6]

Hershey's chocolate is available in 60 countries.[7]It has three largedistribution centerswith modern labor management systems.[8]In addition, Hershey is a member of theWorld Cocoa Foundation.It is also associated with theHersheypark Stadiumand theGiant Center.

The Hershey Company has no affiliation toHershey Creamery Company,though both companies were founded in Lancaster County, Pennsylvania, in the same year. The companies have had a tumultuous relationship marked by multiple legal battles over trademark issues. In the mid-1990s, the companies settled their most recent legal battles out of court, with Hershey Creamery Company agreeing to add a disclaimer to its ice cream products to note that it is not affiliated with the Hershey Company.[9]

History

[edit]

19th century

[edit]
Further information:Milton S. Hershey
Milton S. Hershey,the company's founder

After anapprenticeshipto aLancasterconfectioner in 1873,Milton S. Hersheyopened a candy shop inPhiladelphia.The venture failed, and so did a subsequent one inChicago.After a third failed business attempt inNew York City,Hershey returned toPennsylvania,where he founded theLancaster Caramel Companyin 1883.[10]The Hershey Chocolate Company was founded in 1894 as a subsidiary of Lancaster Caramel Company.

In 1896, Hershey built a milk-processing plant so he could create and refine a recipe for his milk chocolate candies. In 1899, he developed the Hershey process, which is less sensitive to milk quality than traditional methods. In 1900, he began manufacturing theHershey's Milk Chocolatebar.

20th century

[edit]
Hershey's chocolate wrapper in 1903
Further information:Hershey bar,Hershey's Kiss,Hersheypark,Krackel,andMr. Goodbar

The use of fresh milk in caramels proved successful,[11]and in 1900, after seeing chocolate-making machines for the first time at the 1893World's Columbian Expositionin Chicago, Hershey sold his caramel company for $1,000,000[11](equal to $36,624,000 today), and concentrated on chocolate. To people who questioned him, he said, "Caramels are just a fad, but chocolate is a permanent thing."

In 1903, Hershey began construction of a chocolate plant in his hometown of Derry Church, Pennsylvania, later known asHershey, Pennsylvania.[11]The town was an inexpensive place for the workers and their families to live, though the factory was built without windows, so that employees would not be distracted. To increase employee morale, Hershey provided leisure activities and created what would later becomeHersheypark.The milk chocolate bars from this plant proved popular, and the company grew rapidly.

In 1907, he introduced a new candy: bite-sized, flat-bottomed, conical pieces of chocolate that he namedHershey's Kiss.At first, each was wrapped by hand in a square of aluminum foil. The introduction of machine wrapping in 1921 sped up the process and added a small paper ribbon to the top of the package, indicating that it was a genuine Hershey product.[11]Today, over 70 million candies are produced daily.[12]

Other products introduced includedMr. Goodbar(peanuts in milk chocolate) in 1925, Hershey's Syrup in 1926, semi-sweetchocolate chips(a mixture of milk anddark chocolate) in 1928, and theKrackelbar withcrisped ricein 1938.

Reese's Peanut Butter Cups

[edit]
Main article:Reese's Peanut Butter Cups

Harry Burnett ReeseinventedReese's Peanut Butter Cupsafter founding the H. B. Reese Candy Company in 1923.[13]Reese died on May 16, 1956, inWest Palm Beach, Florida,leaving the company to his six sons.[14]On July 2, 1963, the H. B. Reese Candy Company merged with the Hershey Chocolate Corporation in a tax-free stock-for-stock merger.[15]In 1969, only six years after the Reese/Hershey merger, Reese's Peanut Butter Cups became the Hershey Company's top seller.[16]As of September 20, 2012, Reese's was the best-selling candy brand in the United States, with sales of $2.603 billion, and the fourth-best-selling brand globally, with sales of $2.679 billion. In 2024, after 61 years of stock splits,[17]the original 666,316 shares of Hershey common stock received by the Reese family represent 16 million Hershey shares valued at more than $4.4 billion, paying annual cash dividends of $87.6 million.[18][19][20]

Unionization

[edit]
Hershey Union Hall

In the late 1930s, Hershey confronted labor unrest as aCongress of Industrial Organizations-backed union attempted to organize the factory workers. A failed sit-down strike in 1937 ended in violence; loyalist workers and local dairy farmers beat many of the strikers as they attempted to leave the plant. By 1940, an affiliate of theAmerican Federation of Laborsuccessfully organized Hershey's workers under the leadership of John Shearer, who became the first president of Local Chapter Number 464 of theBakery, Confectionery, Tobacco Workers and Grain Millers' International Union.Local 464 now represents the Hershey workforce.

Atlantic City soap venture

[edit]

From around 1938 to 1952, Milton Hershey tried to make toilet soap, which saw a big boom after the Great Depression as well as other hygiene-related items such as shampoo, toothpaste and perfume. Hershey took this opportunity to try to open a store on the Atlantic City Boardwalk, which sold cocoa butter scented toilet soap. The shop was a success for several decades, and the soap's production was sourced from Hershey Estates. Other soaps such as keystone soap, tar soap and shaving soap were also sold at the shop. Product distribution extended from New York City to Baltimore by 1953, when the shop closed down.[21]

M&M's

[edit]
Main article:M&M's
M&M'sbutton-shaped chocolates (left) were developed by Hershey and Mars in the 1930s, whileRolobonbons (right) were produced by Hershey under license.

Shortly beforeWorld War II,Bruce Murrie,son of long-time Hershey's president William F.R. Murrie, struck a deal withForrest Marsto create hard sugar-coated chocolate that would be calledM&M's(for Mars and Murrie). Murrie had a 20% interest in the product, which used Hershey chocolate during World War IIrationing.In 1948, Mars bought out Murrie and became one of Hershey's main competitors.[22]

Kit Kat and Rolo

[edit]
Main articles:Kit KatandRolo

In 1969, Hershey received a license from UK-basedRowntree'sto manufacture and marketKit KatandRoloin the United States. After Hershey's competitorNestléacquired Rowntree's in 1988, it was still required to honor the agreement, and so Hershey continues to make and market the products in the U.S. The license would revert to Nestlé if Hershey were sold.[23]This became a sticking point in Hershey's failed attempt to attract a serious buyer in 2002, and even Nestlé rejected Hershey's asking price, feeling that the economics would not work.[24]

Cadbury

[edit]
Main article:Cadbury

In 1988, Hershey's acquired the rights to manufacture and distribute manyCadbury-branded products in the United States (except gum and mints, which are part ofMondelēz International). In 2015, they sued a British importer to halt imports of British Cadbury chocolate, which reportedly angered consumers.[25][26]Amergerbetween Mondelēz and Hershey's was considered but abandoned in 2016 after Hershey's turned down a $23 billion cash-and-stock bid.[27]

20th century sales and acquisitions

[edit]
Further information:Leaf Candy CompanyandTwizzlers

In 1977, Hershey acquired Y&S Candies (based in nearby Lancaster), makers ofTwizzlerslicoricecandies, founded in 1845.

In 1986, Hershey's made a brief foray intocough dropswhen it acquired theLuden'scough drops brand. In 2001, the brand was sold to Pharmacia, now part ofPfizer,[28]and Luden's later was acquired byPrestige Brands.[29]Hershey's kept Luden's5th Avenuebar.

In 1996, Hershey purchased the American operations of theLeaf Candy CompanyfromHuhtamäki.In 1999, the Hershey Pasta Group was divested to several equity partners to form theNew World Pastacompany, which is now part ofEbro Foods.

21st century

[edit]
Further information:Dagoba Organic Chocolate,Mauna Loa Macadamia Nut Corp.,andScharffen Berger Chocolate Maker

On July 25, 2002, Hershey Trust Company announced that it sought to sell its controlling interest in the Hershey Foods Corporation. The value of Hershey stock rose 25% in a single day, with over 19 million shares traded. Over the following 55 days, criticism of the intended sale from media, thePennsylvania Attorney General,theHershey,and Dauphin County Orphans' Court senior judge, led the company to abandon its attempt to sell the company. Seven Hershey trustees who voted to sell Hershey Foods on September 17, 2002, for US$12.5 billion to theWrigley Company,which is now part ofMars, Incorporated,were removed by Pennsylvania's Attorney and the Dauphin County Orphans' Court judge.[30]Ten of the 17 trustees were forced to resign and four new members who lived locally were appointed. Former Pennsylvania Attorney General LeRoy S. Zimmerman became the new chairman of the reconstituted Milton Hershey School Trustees. Zimmerman publicly committed to having the Milton Hershey School Trust always maintain its ownership of the Hershey Company.

In December 2004, Hershey acquired theMauna Loa Macadamia Nut Corp.fromThe Shansby Group.[31]

TheHershey's Chocolate Worldstore inTimes SquareinManhattanin 2008
Hershey Store located in the Falls Avenue Entertainment Complex inNiagara Falls,Canada in 2005

In 2005, Krave Jerky was founded by Jon Sebastiani after he trained for a marathon and looked for a healthy source of energy.[32]Alliance Consumer Growth, aprivate equitygroup, invested in Krave Jerky in 2012.[33]Hershey's purchased the company in 2015 for $240 million.[34]Hershey would later in 2020 sell Krave Jerky to Sonoma Brands, the food industry incubator founded by Sebastiani in 2016.[35]

In July 2005, Hershey acquired theBerkeley, California-based boutique chocolate-makerScharffen Berger Chocolate Maker.[36]In November 2005, Hershey acquiredJoseph Schmidt Confections,theSan Francisco-basedchocolatier,and in November 2006, Hershey acquiredDagoba Organic Chocolate,a boutique chocolate maker based inAshland, Oregon.

In June 2006,Philadelphiacity councilman Juan Ramos called for Hershey's to stop marketing "Ice Breakers Pacs", a kind of mint, due to the resemblance of its packaging to a kind that was used for illegal street drugs.[37]

In September 2006,ABC Newsreported that several Hershey chocolate products were reformulated to replacecocoa butterwith vegetable oil as anemulsifier.According to the company, this change was made to reduce the costs of producing the products instead of raising their prices or decreasing the sizes. Some consumers complained that the taste was different, but the company stated that in the company-sponsored blind taste tests, about half of consumers preferred the new versions. As the new versions no longer met theFood and Drug Administration's official definition of "milk chocolate", the changed items were relabeled from stating they were "milk chocolate" and "made with chocolate" to "chocolate candy" and "chocolatey."[38]

In December 2011, Hershey reached an agreement to acquire Brookside Foods Ltd., a privately held confectionery company based inAbbotsford, British Columbia.[39]

In 2016, Hershey acquired barkTHINS, a New York-based chocolate snack foods company for $290 million.[40][34]

An August 2016 attempt to sell Hershey toMondelez Internationalwas abandoned following objections by the Hershey Trust.[23]

Amplify Snack Brands, Inc.
Company typePublic
NYSE:BETR (2016-2017)
IndustryFood processing
Founded2010;14 years ago(2010)
Defunct2017;7 years ago(2017)
Headquarters
Austin, Texas
,
U.S.
BrandsSkinnyPop
Paqui
Revenue10,419,294,000 United States dollar (2022)Edit this on Wikidata
2,260,787,000 United States dollar (2022)Edit this on Wikidata
1,644,817,000 United States dollar (2022)Edit this on Wikidata

In 2017, Hershey acquired Amplify Snack Brands, theAustin, Texas-based manufacturer ofSkinnyPopin an all-cash transaction valued at approximately $1.6 billion.[41]In September 2018, Hershey announced the purchase of Pirate Brands fromB&G Foodsfor $420 million in an all-cash deal.[42][43][44]These acquisitions marked Hershey's expansion into non-confectionery products.

In August 2019, Hershey announced it would purchase protein bar maker One Brands LLC for $397 million.[45]In October 2019, Hershey announced a collaboration withYuenglingto produce a limited release collaboration beer titled Yuengling Hershey's Chocolate Porter, becoming Hershey's first licensed beer partnership.[46]In June 2021, Hershey acquired Lily's for $425 million.[47]In November 2021, Hershey announced plans to acquireDot’s Homestyle Pretzels,and their co-packer, Pretzel INC for $1.2B.

In 2023, the company entered the field of plant-based chocolate concocted with dairy alternatives. The snacks are marketed as Plant Based Extra Creamy and Plant Based Reese's Peanut Butter Cups.[48]

Brands

[edit]
Main article:List of The Hershey Company brands

Hershey brands are mostly chocolate or candy-based, and the Hershey Company also manufactures gum. Its main markets are the U.S. and Canada.[49]

Milton Hershey School (MHS)

[edit]
Main article:Milton Hershey School

Unable to have children of his own,Milton S. Hershey,founder of the Hershey Company, founded the Hershey Industrial School in 1909 for white orphaned boys.[50]In 1918, three years after the death of his wife, Milton Hershey donated around $90 million to the boarding school in trust, as well as 40% of the Hershey Company's common stock.[51]The school's initial purpose was to train young men in trades but eventually shifted to focus on preparation for college.[51]The Hershey Trust Company has exercised voting rights for the school and has been a trustee since its founding.[52]

Many of its designs resemble Hershey chocolate products, such as the Hershey Kisses street lights.[53]Milton Hershey was involved in the school's operations until his death in 1945. The Hershey Industrial School was renamed the Milton Hershey School in 1951.[54]

Manufacturing plants

[edit]

The first plant outside Hershey opened on June 15, 1963, inSmiths Falls, Ontario,and the third opened on May 22, 1965, inOakdale, California.[55]In February and April 2007, Hershey's announced that the Smiths Falls[56][57]and Oakdale[58][59]plants would close in 2008, being replaced in part by a new facility inMonterrey, Mexico.The Oakdale factory closed on February 1, 2008.[60]Hershey chocolate factory in São Roque, Brazil, was opened in August 2002. Hershey's Asia operations were largely supplied by their plant inMandideep,India.[2]

Hershey also has plants inStuarts Draft, Virginia,Lancaster, Pennsylvania,Hazleton, Pennsylvania,Memphis, Tennessee,Robinson, Illinois,andGuadalajara, Mexico.

Visitors to Hershey can experienceHershey's Chocolate Worldvisitors center and its simulated tour ride. Public tours were once operated in the Pennsylvania and California factories, which ended in Pennsylvania in 1973 as soon as Hershey's Chocolate World opened,[61]and later in California following the September 11, 2001, attacks, due to security concerns.[59]

On September 18, 2012, Hershey opened a new and expanded West Hershey plant. The plant was completed at a budget of $300 million.[62]

On March 9, 2018, Hershey broke ground to expand itsKit Katmanufacturing facility inHazle Township, Pennsylvania.The expansion project has a $60 million budget and is expected to create an additional 111 jobs at the facility.[63]

On August 17, 2023, it was announced that Hershey repurchased their plant in Smiths Falls, Ontario for $53 million. The plant was previously owned by cannabis companyCanopy Growth.[64]

Product recalls

[edit]
  • In July 1998, a number of 100 g (3.5 oz) milk chocolate bars being sold for fundraising events were recalled because they may have contained traces of almonds not listed in the ingredients.[65]
  • In November 2006, the Smiths Falls production plant in Ontario temporarily shut down and several products were voluntarily recalled after concerns overSalmonellacontamination possibly found in soylecithinwithin their production line. It was believed that most of the products involved in the recall never made it to the retail level.[66][67]

Philanthropy

[edit]

Hershey has made large contributions to education. One of their most notable contributions was to the honors program atElizabethtown CollegeinElizabethtown, Pennsylvania.[68]The program was established in 1999 and is funded partially through the endowment.

In 2015, Hershey announced a commitment to the Clinton Global Initiative to help build a sustainable supply chain to support basic nutrition for children inGhana.[69]

Hershey's long-term focus on children and families has yielded long-standing partnerships with organizations such asChildren's Miracle Network,Ronald McDonald House,andUnited Way(UW). In 2016, the company donated more than $486,200 to those organizations.[70]

Criticism

[edit]
Organization To End Chocolate Slavery says boycotting and protesting is an effective way to end child labor in cocoa production.

Hershey has been criticized for not having programs to ensure sustainable and ethicalcocoapurchases, lagging behind its competitors infair trademeasures.[71]

The "Raise the Bar, Hershey!" campaign was launched in September 2010 by Global Exchange,Green America,theOasis Trust,and theInternational Labor Rights Forum.The purpose of the Raise the Bar Campaign was to pressure Hershey to commit "to take immediate action to eliminate forced and child labor... from Hershey's cocoa supply"; "to sourcing 100% Fair Trade Certified cocoa beans by 2012 for at least one of its top five selling chocolate bars... making at least one additional top five selling bar 100% Fair Trade Certified every two years thereafter"; and that "the majority of Hershey's cocoa across all products will be Fair Trade Certified by 2022". The pressure was particularly directed atWhole Foods Market,which announced on October 3, 2012, that it would cease carrying Hershey'sScharffen Bergerline.[72]The Campaign stated, "Whole Foods' decision follows more than 40 natural food retailers and coops publicly expressing concern about carrying Scharffen Berger andDagobaproducts as a consequence of the giant chocolate maker's refusal to address child labor in its supply chain ".[72]The same day, Hershey's announced it would "source 100 percent certified cocoa for its global chocolate product lines by 2020 and help to accelerate its programs to help eliminate child labor in the cocoa regions of West Africa".[73]

In 2019, Hershey announced that they could not guarantee that their chocolate products were free from child slave labor, as they could trace only about 50% of their purchasing back to the farm level. According toThe Washington Post,the commitment made in 2001 to eradicate such practices within four years had not been kept, neither at the due deadline of 2005, nor within the revised deadlines of 2008 and 2010, and that the result was not likely to be achieved for 2020.[74]

In 2021, Hershey was named in a class action lawsuit filed by eight former child slaves fromMaliwho alleged that the company aided and abetted their enslavement on cocoa plantations inIvory Coast.The suit accused Hershey,Nestlé,Cargill,Mars, Incorporated,Olam International,Barry Callebaut,andMondelez Internationalof knowingly engaging in forced labor, and the plaintiffs sought damages for unjust enrichment, negligent supervision, and intentional infliction of emotional distress.[75]The case was dismissed by U.S. District JudgeDabney Friedrichin 2022.[76]

In December 2022, Hershey was subjected to a lawsuit over the amount of lead and cadmium in the company's products, especially the Special Dark bar, the 70% Lily Bar, and the 85% Lily Bar.[77]The lawsuit alleges that the company failed to warn consumers about the amount of metal in the bars and is based on findings published by theConsumer Reportsmagazine in the United States.[78]

Perception outside the U.S.

[edit]

The presence ofbutyric acidin Hershey's chocolate, due to the use of controlledlipolysisin the production process, results in a flavor unfamiliar to those accustomed to chocolate from other parts of the world. In the UK, this has often been compared to the smell and taste of vomit.[79][80][81][82]

[edit]

Additional sources

[edit]
  • Brenner, Joël Glenn (2000).The Emperors of Chocolate: Inside the Secret World of Hershey & Mars.Broadway Books.ISBN0-7679-0457-5.*Our History | HERSHEY'S
  • History | The Hotel Hershey
  • Official Hershey's chocolate and candy site

See also

[edit]

References

[edit]
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  70. ^Hershey Entertainment & Resorts."Hershey Entertainment & Resorts Outlines Philanthropic Giving, Community Impact".prnewswire(Press release).RetrievedJune 22,2018.
  71. ^"Hershey Dominates US Market, but Lags Behind Competitors in Avoiding Forced Labor, Trafficking and Child Labor | International Labor Rights Forum".Laborrights.org. September 13, 2010. Archived fromthe originalon October 18, 2012.RetrievedAugust 8,2012.
  72. ^ab"Whole Foods Drops Hershey's Scharffen Berger Chocolates Over Child Labor Issues".Green America. October 3, 2012. Archived fromthe originalon November 10, 2012.RetrievedFebruary 8,2013.
  73. ^"Hershey to Source 100% Certified Cocoa by 2020".The Hershey company. October 3, 2012.RetrievedFebruary 8,2013.
  74. ^Whoriskey, Peter; Siegel, Rachel (June 5, 2019)."Cocoa's child laborers".The Washington Post.RetrievedSeptember 3,2019.
  75. ^Balch, Oliver (February 12, 2021)."Mars, Nestlé and Hershey to face child slavery lawsuit in US".RetrievedFebruary 13,2021.
  76. ^Stempel, Jonathan (June 29, 2022)."Hershey, Nestle, Cargill win dismissal in U.S. of child slavery lawsuit".Reuters.RetrievedMay 30,2023.
  77. ^"Hershey sued in US over metal in dark chocolate claim".BBC News.December 30, 2022.RetrievedJanuary 2,2023.
  78. ^"Lead and Cadmium Could Be in Your Dark Chocolate".Consumer Reports.RetrievedJanuary 2,2023.
  79. ^"Why Hershey's Chocolate Tastes Like... Well, Vomit".HuffPost UK.March 22, 2021.
  80. ^Mahdawi, Arwa (January 4, 2023)."Why is American chocolate so disgusting? You really don't want to know".The Guardian.
  81. ^Spector, Tim(October 27, 2022). "29. Sweet Treats".Food for Life.Penguin Books.ISBN9781787330498....dark chocolate was first combined with powdered milk to soften and sweeten it by the SwissNestlécompany and Hershey's in America later blended it with milk fat that is partly broken down by enzymes, adding a mildly rancid, cheesy flavour that blends with the cocoa. Hershey's only contains about 13% cocoa and doesn't export well to those not raised on it and many European's, like myself, think it smells unpleasantly of vomit
  82. ^"Why American chocolate tastes like VOMIT | QI - BBC"– via YouTube.
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