The Hershey Company
Categories
#579
Rank
$34.45B
Marketcap
United States
Country
Kristen Riggs (Senior Vice President, Chief Growth Officer)
Steven Voskuil (Senior Vice President, Chief Financial Officer)
Retail and Consumer Goods
Summary
The Hershey Company, commonly known as Hershey's, is an American multinational company and one of the largest chocolate manufacturers in the world. It also manufactures baked products, such as cookies and cakes, and sells beverages like milkshakes, as well as other products. Its headquarters are in Hershey, Pennsylvania, United States, which is also home to Hersheypark and Hershey's Chocolate World. It was founded by Milton S. Hershey in 1894 as the Hershey Chocolate Company, which is a subsidiary of his Lancaster Caramel Company. The Hershey Trust Company owns a minority stake but retains a majority of the voting power within the company.
Hershey's chocolate is available across the United States, and in over 60 countries worldwide. It has three large distribution centers with modern labor management systems. In addition, Hershey is a member of the World Cocoa Foundation. It is also associated with the Hersheypark Stadium and the Giant Center.
The Hershey Company has no affiliation with Hershey 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 lawsuits 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.
History
The Hershey Company, one of the largest chocolate manufacturers in the world, has a rich history dating back to its founding in 1894 by Milton Hershey.
Milton Hershey was a successful businessman and philanthropist who had a vision of creating a town and factory that would provide his workers with a good quality of life. He chose the town of Derry Church, Pennsylvania, which was later renamed Hershey in his honor, as the site for his factory.
In 1900, the Hershey Chocolate Company was incorporated and began producing chocolate bars, which quickly became a popular treat in the United States. By 1907, the company had grown so much that it became the largest chocolate manufacturer in the United States.
During World War II, the Hershey Company supplied the U.S. Army with a special "Field Ration D" bar, which was specifically designed to withstand high temperatures and provide soldiers with a source of energy in the field.
In the 1950s and 1960s, the company expanded its product line to include new products such as Hershey's Kisses, Reese's Peanut Butter Cups, and Kit Kat bars. These products became some of the most popular and recognizable candies in the world.
Throughout its history, the Hershey Company has also been known for its commitment to social responsibility and philanthropy. In 1909, Milton Hershey and his wife Catherine established the Hershey Industrial School, which provided education and training for orphaned boys. Today, the school is known as the Milton Hershey School and continues to provide education and support to children in need.
In the 21st century, the Hershey Company has continued to innovate and expand its product line. In 2005, the company introduced the Hershey's S'mores candy bar, which became an instant hit with consumers. In recent years, the company has also expanded into new markets, such as China and India, and has introduced new products such as Hershey's Gold and Reese's Thins.
Today, the Hershey Company remains a leader in the chocolate and confectionery industry, with a strong commitment to quality, innovation, and social responsibility. The company's brands are beloved by consumers around the world, and its legacy as a pioneer in the industry continues to inspire new generations of chocolate makers and candy lovers.
Mission
According to Hershey, the company mission is: “to make chocolate brands that people love." Hershey's trademark statement is: “Bringing sweet moments of Hershey happiness to the world every day."
The mission of The Hershey Company is to be a leader in the global confectionery and snacking industry by creating value for its customers and stakeholders through continuous innovation, growth, and excellence. The company aims to achieve this mission by focusing on four key areas:
Consumers: The Hershey Company is committed to creating products that meet the evolving needs and preferences of its consumers. The company aims to provide high-quality, great-tasting products that are both affordable and accessible.
Customers: The Hershey Company aims to be a reliable and trusted partner to its customers by providing excellent customer service, innovative products, and efficient supply chain management.
Employees: The Hershey Company values its employees and aims to create a supportive and inclusive workplace that fosters creativity, innovation, and personal growth. The company is committed to providing its employees with the resources, training, and support they need to succeed.
Communities: The Hershey Company is committed to making a positive impact on the communities in which it operates. The company aims to be a responsible corporate citizen by promoting sustainability, supporting local communities, and advancing social and environmental initiatives.
Vision
According to Hershey, the company's vision is: “for the future spreading goodness in all the right directions".
The vision of The Hershey Company is to be a global leader in the chocolate and confectionery industry by providing high-quality products that delight consumers worldwide. The company aims to achieve this vision by focusing on four key areas:
Innovation: The Hershey Company is committed to continuously innovating its products, processes, and technologies. The company aims to develop new and innovative products that meet the changing needs and preferences of its consumers.
Quality: The Hershey Company strives for excellence in everything, from sourcing the highest-quality ingredients to delivering the best possible customer service. The company aims to be known for the exceptional quality of its products and services.
Sustainability: The Hershey Company is committed to promoting sustainability and protecting the environment. The company aims to reduce its environmental footprint by minimizing waste, conserving natural resources, and promoting sustainable practices throughout its supply chain.
Corporate Citizenship: The Hershey Company is committed to being a responsible corporate citizen by promoting social and environmental initiatives, supporting local communities, and upholding the highest ethical standards in all its business practices.
Key Team
Anthony Palmer (Board Member)
Charles Davis (Board Member)
Charles Raup (President)
Chris Scalia (Senior Vice President, Chief Human Resources Officer)
David Shedlarz (Board Member)
Hector de la Barreda (President)
Recognition and Awards
Products and Services
Chocolate Bars: The Hershey Company produces a variety of chocolate bars including Hershey's Milk Chocolate, Hershey's Special Dark Chocolate, Hershey's Cookies 'n' Creme, and Hershey's Gold.
Chocolate Kisses: Hershey's Kisses are small, bite-sized chocolates that come in various flavors such as Milk Chocolate, Special Dark Chocolate, and Almond.
Baking Products: The Hershey Company also offers a range of baking products, including Hershey's Cocoa Powder, Hershey's Semi-Sweet Chocolate Chips, and Hershey's Syrup.
Confectionery Products: The Hershey Company produces a range of confectionery products, including Jolly Rancher hard candy, Twizzlers licorice, and Ice Breakers mints.
Snack Foods: The Hershey Company offers a range of snack foods, including Hershey's Popped Snack Mix, Reese's Puffs cereal, and SkinnyPop popcorn.
Seasonal Products: The Hershey Company produces a range of seasonal products, including Hershey's Easter candies, Hershey's Halloween candies, and Hershey's Christmas candies.
Beverages: The Hershey Company also produces a range of beverages, including Hershey's Chocolate Milk and Hershey's Hot Cocoa.
International Brands: The Hershey Company also owns a number of international brands, including Cadbury, Scharffen Berger, and Kit Kat.
References
https://en.wikipedia.org/wiki/The_Hershey_Company
https://www.zippia.com/the-hershey-company-careers-11468/
https://www.crunchbase.com/organization/the-hershey-company
https://www.companieshistory.com/hershey/
https://sec.report/CIK/0000047111
https://companiesmarketcap.com/largest-companies-by-revenue/
https://www.britannica.com/topic/Hershey-Chocolate-Corporation
https://www.chocolateworld.com/home.html
https://finance.yahoo.com/quote/HSY/
Kristen Riggs (Senior Vice President, Chief Growth Officer)
Steven Voskuil (Senior Vice President, Chief Financial Officer)
Retail and Consumer Goods