The Hershey Company, commonly known as Hershey’s, is a renowned American manufacturer of chocolate and other sweet treats. Founded by Milton S. Hershey in 1894, the company has grown to become one of the largest chocolate manufacturers in the world. Over the years, Hershey has expanded its portfolio through strategic acquisitions, partnerships, and innovative product development. In this article, we will delve into the various companies owned by Hershey, exploring their history, products, and contributions to the global confectionery market.
Introduction to Hershey’s Portfolio
Hershey’s portfolio is diverse and extensive, featuring a range of iconic brands and products that cater to different tastes and preferences. The company’s acquisition strategy has focused on enhancing its position in the global confectionery market, while also expanding into new categories and geographies. By owning a variety of companies, Hershey has been able to leverage their collective strengths, drive growth, and increase its competitiveness in the market.
Hershey’s Key Acquisitions
One of the most significant factors contributing to Hershey’s success is its ability to identify and acquire complementary brands that align with its vision and growth strategy. Some notable acquisitions include:
The purchase of Reese’s in 1963, which added peanut butter cups and other nut-based products to Hershey’s portfolio. Reese’s has since become one of the company’s most successful brands, with a wide range of products and limited-edition flavors.
The acquisition of Krave Pure Foods in 2012, which expanded Hershey’s presence in the premium and better-for-you segments. Krave offers a range of gourmet jerky and snack products made with high-quality ingredients.
The purchase of Brookside Foods in 2011, which added a portfolio of chocolate-covered fruit and nut products to Hershey’s offerings. Brookside’s products are known for their unique flavor combinations and high-quality ingredients.
Brookside’s Product Line
Brookside’s product line is characterized by its innovative flavor profiles and use of premium ingredients. Some of the company’s most popular products include:
Chocolate-covered cranberries, blueberries, and other fruits, which offer a sweet and tangy taste experience.
Dark chocolate-covered nuts, such as almonds and hazelnuts, which provide a rich and satisfying snack option.
Fruit and nut clusters, which combine the best of both worlds in a single product.
Hershey’s Subsidiaries and Partnerships
In addition to its acquisitions, Hershey has established various subsidiaries and partnerships to drive growth and expansion. These entities enable the company to tap into new markets, develop innovative products, and enhance its operational efficiency.
Hershey’s International Operations
Hershey has a significant presence in international markets, with operations in over 90 countries worldwide. The company’s international subsidiaries include:
Hershey Canada, which is responsible for the company’s operations in Canada.
Hershey Mexico, which oversees the company’s business in Mexico and other Latin American countries.
Hershey China, which has played a crucial role in driving the company’s growth in the Asia-Pacific region.
International Market Strategy
Hershey’s international market strategy focuses on adapting its products and marketing approaches to meet local tastes and preferences. The company has introduced a range of region-specific products, such as Ice Breakers in China and Reese’s in Mexico. By leveraging its global scale and local insights, Hershey has been able to drive growth and increase its market share in international markets.
Conclusion
The Hershey Company’s ownership of various companies has been a key factor in its success and growth over the years. By acquiring complementary brands, establishing subsidiaries, and forming partnerships, Hershey has been able to expand its portfolio, drive innovation, and increase its competitiveness in the global confectionery market. As the company continues to evolve and adapt to changing consumer preferences, its diverse range of brands and products will remain essential to its success. With a strong foundation in place, Hershey is well-positioned to maintain its leadership position in the confectionery industry and delight consumers around the world with its iconic and innovative treats.
To better understand the scope of Hershey’s portfolio, the following table provides an overview of some of the company’s key brands and products:
| Brand | Product | Description |
|---|---|---|
| Reese’s | Peanut Butter Cups | Chocolate-covered peanut butter treats |
| Krave | Gourmet Jerky | Premium jerky products made with high-quality ingredients |
| Brookside | Chocolate-Covered Fruits | Fruit and nut products covered in premium chocolate |
By examining the companies owned by Hershey, it is clear that the company’s commitment to innovation, quality, and customer satisfaction has been instrumental in its success. As a leader in the confectionery industry, Hershey continues to inspire and delight consumers with its wide range of iconic and innovative products.
What companies are owned by Hershey?
The Hershey Company has an extensive portfolio of brands and companies under its umbrella. Some of the notable companies owned by Hershey include Kraft Foods’ confectionery division, which was acquired in 2007, and thelags, a Canadian confectionery company. Additionally, Hershey has a stake in the Brookside Foods Ltd., a Canadian chocolate and confectionery company. These acquisitions have enabled Hershey to expand its product offerings and increase its presence in the global confectionery market. With a diverse range of brands, Hershey is able to cater to different consumer preferences and tastes.
Hershey’s portfolio also includes other well-known brands such as Almond Joy, Mounds, York, and EET. The company has also made significant investments in emerging brands, such as Krave Pure Foods, a company that specializes in producing gourmet beef jerky. Furthermore, Hershey has partnered with other companies to expand its reach and product offerings, such as its partnership with Starbucks to produce co-branded coffee and chocolate products. By acquiring and partnering with other companies, Hershey has been able to stay competitive in the confectionery industry and provide a wide range of products to consumers.
What is Hershey’s most popular product?
Hershey’s most popular product is the Hershey’s Milk Chocolate Bar, which was first introduced in 1900. The iconic bar has been a staple of American candy for over a century and is widely recognized as one of the most popular chocolate bars in the world. The bar’s success can be attributed to its unique taste, which is achieved through a special recipe that involves the use of fresh milk. The bar’s popularity has endured for generations, and it remains one of the top-selling chocolate bars in the United States. The Hershey’s Milk Chocolate Bar is a cultural icon, and its success has inspired numerous variations, including almonds, cookies ‘n’ creme, and special edition flavors.
The success of the Hershey’s Milk Chocolate Bar has also led to the creation of other popular products, such as Reese’s Peanut Butter Cups, which was introduced in 1928. Reese’s has become a beloved brand, known for its delicious combination of peanut butter and chocolate. Other popular Hershey’s products include Hershey’s Kisses, which were introduced in 1907, and Hershey’s Cookies ‘n’ Creme bar, which was introduced in the 1990s. These products, along with the Hershey’s Milk Chocolate Bar, have helped to establish Hershey as one of the leading confectionery companies in the world.
Does Hershey own any international companies?
Yes, Hershey owns several international companies, including Brookside Foods Ltd., a Canadian confectionery company, and the Shanghai Golden Monkey Food Joint Stock Co., Ltd., a Chinese confectionery company. These acquisitions have enabled Hershey to expand its presence in international markets and cater to local consumer preferences. For example, Brookside Foods Ltd. produces a range of confectionery products, including chocolate-covered fruit and nuts, which are popular in Canada and other international markets. By owning international companies, Hershey is able to tap into local markets and gain a deeper understanding of consumer preferences and tastes.
Hershey’s international expansion has also involved partnerships with local companies to produce and distribute its products. For example, the company has partnered with a Brazilian confectionery company to produce and distribute Hershey’s products in Brazil. These partnerships have enabled Hershey to expand its reach and increase its presence in international markets. Additionally, Hershey has invested in research and development facilities in international markets, such as its facility in China, which is focused on developing new products and flavors tailored to local consumer preferences. By investing in international markets, Hershey is able to stay competitive and provide a wide range of products to consumers around the world.
How has Hershey’s business strategy evolved over time?
Hershey’s business strategy has evolved significantly over time, from its humble beginnings as a small chocolate company to its current status as a global confectionery leader. In the early years, Hershey focused on producing high-quality chocolate products, such as the iconic Hershey’s Milk Chocolate Bar. As the company grew, it began to expand its product offerings and acquire other companies to increase its presence in the market. In recent years, Hershey has focused on investing in emerging brands and technologies, such as e-commerce and digital marketing, to stay competitive in a rapidly changing market.
Hershey’s business strategy has also involved a focus on sustainability and social responsibility. The company has made significant investments in reducing its environmental impact, such as reducing energy consumption and waste, and has implemented programs to support cocoa farmers and their communities. Additionally, Hershey has made commitments to increase the use of sustainable ingredients and reduce the amount of packaging in its products. By prioritizing sustainability and social responsibility, Hershey is able to appeal to consumers who are increasingly concerned about the environmental and social impact of the products they buy. By evolving its business strategy over time, Hershey has been able to stay competitive and maintain its position as a leader in the confectionery industry.
What is Hershey’s approach to sustainability and social responsibility?
Hershey’s approach to sustainability and social responsibility involves a range of initiatives and programs aimed at reducing the company’s environmental impact and supporting the communities in which it operates. For example, Hershey has made commitments to reduce its greenhouse gas emissions and water usage, and has implemented programs to reduce waste and increase recycling. The company has also made significant investments in sustainability initiatives, such as the use of renewable energy and sustainable agriculture practices. Additionally, Hershey has implemented programs to support cocoa farmers and their communities, such as training programs and community development initiatives.
Hershey’s approach to sustainability and social responsibility is also reflected in its supply chain practices. The company has implemented a range of programs aimed at ensuring that its suppliers adhere to strict sustainability and social responsibility standards. For example, Hershey has implemented a program to ensure that all of its cocoa is sourced sustainably, and has partnered with organizations such as the Rainforest Alliance to support sustainable agriculture practices. By prioritizing sustainability and social responsibility, Hershey is able to reduce its environmental impact, support the communities in which it operates, and appeal to consumers who are increasingly concerned about the environmental and social impact of the products they buy. By making sustainability and social responsibility a core part of its business strategy, Hershey is able to maintain its position as a leader in the confectionery industry.
How does Hershey support its local communities?
Hershey supports its local communities through a range of initiatives and programs, including philanthropic donations, volunteer programs, and community development initiatives. For example, the Hershey Company has a long history of supporting children’s charities, such as the Milton Hershey School, which was founded by the company’s founder, Milton Hershey, in 1909. The school provides education and support to disadvantaged children, and is a testament to Hershey’s commitment to giving back to the community. Additionally, Hershey has implemented programs to support local economic development, such as its “Hershey’s Heartwarming the World” initiative, which aims to make a positive impact on local communities through volunteerism and philanthropy.
Hershey’s support for local communities also extends to its supply chain practices. The company has implemented programs to support local farmers and suppliers, such as its “Cocoa For Good” program, which aims to support sustainable cocoa farming practices and improve the lives of cocoa farmers and their communities. By supporting local communities, Hershey is able to make a positive impact on the lives of its employees, customers, and suppliers, and to contribute to the economic and social development of the regions in which it operates. Through its commitment to community support, Hershey is able to build strong relationships with its stakeholders and maintain its position as a responsible and sustainable business leader.
What is Hershey’s approach to innovation and product development?
Hershey’s approach to innovation and product development involves a range of initiatives and programs aimed at staying ahead of the curve in terms of consumer trends and preferences. For example, the company has implemented a range of innovation programs, such as its “Shark Tank”-style competition, which encourages employees to submit ideas for new products and packaging. Hershey has also made significant investments in research and development, including the establishment of a state-of-the-art research and development facility in Pennsylvania. By prioritizing innovation and product development, Hershey is able to stay competitive in a rapidly changing market and to provide consumers with a wide range of exciting and delicious products.
Hershey’s approach to innovation and product development is also reflected in its partnerships with other companies and organizations. For example, the company has partnered with startups and other businesses to develop new products and technologies, such as its partnership with a company that specializes in producing plant-based proteins. By collaborating with other companies and organizations, Hershey is able to tap into new ideas and expertise, and to stay ahead of the curve in terms of consumer trends and preferences. Additionally, Hershey has implemented programs to encourage innovation and entrepreneurship among its employees, such as its “Innovation Center” program, which provides resources and support to employees who want to develop new ideas and products. By prioritizing innovation and product development, Hershey is able to maintain its position as a leader in the confectionery industry and to provide consumers with a wide range of exciting and delicious products.