The Hershey Company is one of the world’s largest and most iconic chocolate and confectionery companies. Founded in 1894 by Milton Hershey in Hershey, Pennsylvania, the company has grown to become a global leader in manufacturing and selling high-quality chocolate, candy, gum, mints, and other snack products. Hershey is best known for its flagship Hershey Milk Chocolate bar, a beloved classic for over a century. In addition to this iconic brand, the company’s portfolio includes other well-recognized names such as Hershey Kisses, Reese’s Peanut Butter Cups, KitKat, Twizzlers, and Ice Breakers.
Beyond its core chocolate and confectionery business, Hershey has strategically expanded into adjacent food categories in recent decades. This includes the acquisition of brands like Krave jerky, Skinny Pop popcorn, and Pirate’s Booty, allowing the company to diversify its product offerings and appeal to evolving consumer preferences for snacks and better-for-you options.
Business model
Hershey operates a global network of manufacturing facilities, distribution centres, and research and development labs to support its broad product portfolio. The company sells its branded chocolate, candy, and snack products through multiple channels, including directly to retailers, wholesalers and distributors, and increasingly through e-commerce and other digital platforms. Hershey also has a strong international presence, with operations and sales in over 90 countries worldwide.
The company’s strategy focuses on innovation to develop new products, brand-building to maintain consumer loyalty, and operational efficiency to control costs. Hershey also grows through strategic acquisitions to expand its portfolio and geographic reach. By leveraging its iconic brands, diverse product offerings, and global manufacturing and distribution capabilities, Hershey seeks to deliver consistent financial performance and shareholders.
Financial highlights
From 2014 to 2023, Hershey has recorded consistent financial growth. Over this period, the company achieved a compound annual growth rate (CAGR) of 4.71% in revenue, 4% in gross profit, and
