Hershey
A leading American multinational confectionery and snacking company known for Hershey's, Reese's, Kisses, Kit Kat in the United States, Twizzlers and other widely distributed brands.
Last updated October 14, 2026
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Overview
The Hershey Company is an American multinational food manufacturer headquartered in Hershey, Pennsylvania. It is best known for chocolate and confectionery brands sold under names including Hershey's, Reese's, Kisses, Jolly Rancher, Twizzlers, York, Almond Joy, Heath, Whoppers and Payday. Through licensing arrangements, it also manufactures and markets Kit Kat and Rolo in the United States, while its wider portfolio includes Cadbury products for the U.S. market, baking ingredients, popcorn, pretzels, protein bars, low-sugar confectionery and other snack products. Milton S. Hershey established the Hershey Chocolate Company in 1894 as a subsidiary of his Lancaster Caramel Company. After developing a milk-processing operation and refining a process for making milk chocolate, Hershey shifted his attention from caramels to chocolate. The company introduced the Hershey's Milk Chocolate bar in 1900 and built a large factory in what became Hershey, Pennsylvania. The factory and the planned community around it helped create the distinctive relationship between the business, the town and the charitable institutions founded by Milton Hershey. The company expanded its core portfolio through product innovation and acquisitions. Hershey's Kisses arrived in 1907, followed by Mr. Goodbar, Hershey's Syrup, semi-sweet chocolate chips and Krackel. The 1963 merger with the H. B. Reese Candy Company brought Reese's Peanut Butter Cups into the Hershey portfolio; Reese's later became one of the company's most important brands. Acquisitions and licensing agreements subsequently added or strengthened Twizzlers, Cadbury products, Kit Kat, Rolo, Brookside, Mauna Loa, SkinnyPop, Pirate's Booty, ONE protein bars, Lily's, Dot's Homestyle Pretzels and other brands. During the twenty-first century, Hershey broadened its strategic definition from a traditional chocolate manufacturer to a broader snacking company. The 2017 acquisition of Amplify Snack Brands expanded its presence in popcorn and other salty snacks. The 2021 acquisitions of Lily's, Dot's Homestyle Pretzels and Pretzels Inc. increased exposure to low-sugar confectionery and salty snacks. Sour Strips, acquired in 2024, added a digitally native sour-candy brand with a strong social-media following. The portfolio now spans sweet, salty and protein categories, while the company continues to rely on its best-known chocolate brands for scale and consumer recognition. Hershey operates manufacturing, sourcing, distribution and commercial activities across North America and international markets. Cocoa is a central raw material, making agricultural conditions, commodity prices, climate risk, farmer livelihoods and supply-chain traceability important strategic issues. The company participates in industry sustainability initiatives and has made commitments involving cocoa sourcing, human rights, packaging, emissions and responsible procurement. The company remains publicly traded, but its governance is unusual because the Hershey Trust Company retains substantial voting influence connected with Milton Hershey School. That structure contributed to the abandonment of proposed sales of Hershey in 2002 and 2016. In 2025, Kirk Tanner became president and chief executive officer, succeeding Michele Buck. In 2026, Hershey reorganized its U.S. commercial operations under a unified ONE Hershey model integrating its sweet, salty and protein portfolios. Hershey also announced a planned Kit Kat recipe enhancement for 2027 and continued investment in manufacturing capacity and brand innovation.
History
Milton S. Hershey entered the confectionery business after apprenticing to a Lancaster confectioner. His early candy ventures in Philadelphia, Chicago and New York failed, but he returned to Pennsylvania and founded the Lancaster Caramel Company in 1883. The success of that business financed his later move into chocolate. In 1894, Hershey established the Hershey Chocolate Company as a subsidiary of Lancaster Caramel. He built a milk-processing plant in 1896 and developed the Hershey process in 1899, enabling the company to make milk chocolate with greater consistency despite variations in milk quality. In 1900, after selling Lancaster Caramel, Hershey concentrated on chocolate and introduced the Hershey's Milk Chocolate bar. Construction of a major factory began in 1903 in Derry Church, Pennsylvania. The location was later renamed Hershey, and the factory became the foundation of a planned industrial community. Hershey invested in worker housing, recreation and public amenities, including the attraction that developed into Hersheypark. The company relocated its operations from Lancaster when the Hershey factory was completed in 1905. The early twentieth century was defined by product invention and scale. Hershey introduced Kisses in 1907, initially wrapped by hand and later machine-wrapped with the paper plume that became a mark of authenticity. Mr. Goodbar appeared in 1925, Hershey's Syrup in 1926, semi-sweet chocolate chips in 1928 and Krackel in 1938. The company also developed relationships with other confectionery businesses. Before World War II, Bruce Murrie of Hershey partnered with Forrest Mars on M&M's, although Mars later bought out Murrie's interest and became a major competitor. Milton Hershey's philanthropic legacy became closely linked to the company. In 1909 he established the Hershey Industrial School, later renamed Milton Hershey School. In 1918, he transferred a large charitable endowment and a substantial block of Hershey stock to support the school. The Hershey Trust Company has exercised voting rights associated with the trust, giving the charitable institution continuing influence over the publicly traded company. The 1963 merger with the H. B. Reese Candy Company brought Reese's Peanut Butter Cups into Hershey's portfolio. Reese's became the company's leading seller within several years and remains a central growth engine. Hershey also expanded through licensing: in 1969 it obtained a perpetual U.S. license for Kit Kat and Rolo from Rowntree's. Nestlé's later acquisition of Rowntree's did not end the agreement, although the license's change-of-control provisions later complicated potential acquisitions of Hershey. Hershey diversified through acquisitions during the late twentieth century. It acquired Y&S Candies, maker of Twizzlers, in 1977; purchased the American operations of Leaf Candy in 1996; and obtained U.S. rights to many Cadbury products in 1988. It also entered and exited adjacent categories, including cough drops, pasta and other food products. These moves gradually transformed the company from a narrow chocolate producer into a broader branded food business. The company's governance structure became nationally prominent in 2002 when the Hershey Trust sought to sell its controlling interest. A proposed sale to Wrigley valued the company at approximately $12.5 billion, but public opposition, intervention by Pennsylvania authorities and concern for the Milton Hershey School led to the transaction's cancellation. Several trustees were removed or resigned, and the reconstituted trustees committed to maintaining the trust's ownership and voting influence. In the 2000s and 2010s, Hershey pursued premium chocolate, international growth and broader snacking. It acquired Mauna Loa, Scharffen Berger, Joseph Schmidt Confections, Dagoba, Brookside and other brands. The purchase of Krave in 2015 and its subsequent divestiture in 2020 reflected experimentation with protein and better-for-you snacking. The 2016 rejection of a proposed Mondelez combination again demonstrated the practical importance of the Hershey Trust's governance position. The 2017 acquisition of Amplify Snack Brands, including SkinnyPop, marked a significant move into salty snacks. Pirate Brands followed in 2018, while One Brands expanded the company's protein-bar presence in 2019. In 2021, Hershey acquired Lily's, a low-sugar confectionery brand, and Dot's Homestyle Pretzels together with Pretzels Inc., adding both a better-for-you sweets platform and substantial pretzel manufacturing capability. Hershey also acquired manufacturing assets from Weaver Popcorn in 2023 and Sour Strips in 2024. Recent strategy has emphasized a portfolio organized around sweet, salty and protein occasions. Hershey opened a Reese's chocolate processing facility in Hershey in 2025 and announced a unified ONE Hershey U.S. commercial model in 2026. Kirk Tanner became CEO in August 2025 after Michele Buck's retirement transition. The company continues to balance the scale and heritage of its core brands with product renovation, digital marketing, licensed partnerships, manufacturing investment, international expansion and efforts to address cocoa sourcing, human rights and sustainability risks.
- 2026
ONE Hershey operating model launched
[6]The company unified its U.S. commercial model across sweet, salty and protein categories.
- 2025
Reese's chocolate processing facility opens
[1]Hershey opened a new Reese's chocolate processing facility in Hershey, described by the company as its first fully integrated digital manufacturing plant.
- 2025
Kirk Tanner becomes CEO
[5]Kirk Tanner succeeded Michele Buck as president and chief executive officer.
- 2024
Sour Strips acquired
[8]Hershey acquired the fast-growing Sour Strips sour-candy brand.
- 2023
Weaver manufacturing assets acquired
[2]Hershey acquired two manufacturing facilities and related assets from Weaver Popcorn Manufacturing to strengthen internal supply-chain capacity.
- 2021
Lily's and Dot's acquired
[1]Hershey completed acquisitions that added Lily's low-sugar confectionery and Dot's Homestyle Pretzels with Pretzels Inc.
- 2017
Amplify Snack Brands acquired
[7]Hershey acquired Amplify Snack Brands for approximately $1.6 billion, adding SkinnyPop and other snack brands.
- 2016
Mondelez combination rejected
[7]Hershey rejected a proposed cash-and-stock combination with Mondelez International valued at approximately $23 billion.
- 2015
Krave acquired
[7]Hershey acquired Krave Jerky for approximately $240 million, extending its portfolio into protein-oriented snacks.
- 2002
Proposed sale abandoned
[7]A proposed sale of Hershey to Wrigley was abandoned after opposition from the public, Pennsylvania authorities and stakeholders connected to Milton Hershey School.
Products and positioning
Mass-market confectionery and snacking company combining heritage chocolate brands with broad distribution, accessible price points, seasonal merchandising, licensed products and expansion into salty, protein and better-for-you categories.
Chocolate pieces · 1900
Hershey's Kisses
The company's core chocolate brand includes milk chocolate and dark chocolate bars, filled and flavored variants, seasonal formats, baking products and other chocolate-based offerings. The brand's identity is closely tied to the original Hershey's Milk Chocolate bar and to the company's heritage in mass-market American chocolate. Introduced in 1907, Kisses are small, individually wrapped chocolate pieces sold in everyday, seasonal, filled and flavored varieties. Their distinctive conical shape and paper plume have made the product one of Hershey's most recognizable visual assets.
Peanut butter confectionery · 1928
Reese's
Reese's combines peanut butter with chocolate across cups, bars, seasonal shapes, minis, spreads and other formats. The brand entered Hershey's portfolio through the 1963 merger with the H. B. Reese Candy Company and became a central growth and marketing platform.
Chocolate-coated wafer · 1969
Kit Kat
Hershey manufactures and markets Kit Kat in the United States under a long-term license originating with Rowntree's. The U.S. portfolio includes standard bars, king-size formats, seasonal products and flavor extensions.
Licorice and fruit-flavored candy · 1977
Twizzlers
Twizzlers is a licorice and fruit-flavored candy brand acquired through Y&S Candies in 1977. Its portfolio includes twists, filled products, nibs, pull-and-peel formats and seasonal or movie-oriented packaging.
Hard candy and gummies · 1996
Jolly Rancher
Jolly Rancher offers intensely flavored hard candies, chews, gummies, lollipops and other non-chocolate formats. It gives Hershey a major presence in fruit-flavored candy and supports impulse, sharing and seasonal occasions.
Pantry and baking · 1926
Hershey's Syrup and baking products
This group includes chocolate syrup, baking chips, baking bars, cocoa, toppings and other pantry products. It extends the Hershey brand beyond ready-to-eat candy into home baking, desserts and beverage preparation.
Popcorn and salty snacks · 2017
SkinnyPop
SkinnyPop is a popcorn brand acquired through Amplify Snack Brands in 2017. It helped establish Hershey as a significant participant in salty snacks and is marketed around simple ingredients, portability and permissible everyday snacking.
Pretzels · 2021
Dot's Homestyle Pretzels
Dot's Homestyle Pretzels are seasoned pretzels known for a distinctive buttery and savory flavor profile. Hershey acquired the brand in 2021 together with Pretzels Inc., expanding its salty-snack manufacturing and distribution capabilities.
Low-sugar confectionery · 2010
Lily's
Lily's offers chocolate-style bars, baking chips, peanut butter cups, caramels and other products sweetened without refined or processed sugar, often using stevia. Hershey acquired the brand in 2021 as part of its better-for-you confectionery strategy.
Protein bars · 2019
ONE
ONE is a protein-bar brand acquired by Hershey in 2019. Its products are positioned around high protein content, indulgent flavors and convenient nutrition, helping Hershey participate in the performance and better-for-you snacking market.
Sour candy · 2019
Sour Strips
Sour Strips is a digitally native sour-candy brand founded by Maxx Chewning and acquired by Hershey in 2024. The brand emphasizes intense sour flavor, resealable packaging, internet culture and community-driven marketing.
Controversies
2019
Child-labor traceability criticism
Hershey acknowledged that its cocoa supply chain was not fully traceable to farm level and therefore could not guarantee that its chocolate was free from child slave labor. The disclosure renewed criticism of the industry's longstanding cocoa labor commitments.
2015
Legal action over imported British Cadbury products
Hershey sued an importer to stop distribution of British Cadbury chocolate in the United States, relying on trademark and trade-dress concerns. The action generated consumer criticism because of differences between U.S. and British Cadbury products.
2006
Reformulation and milk-chocolate labeling controversy
Hershey reformulated several products by replacing some cocoa butter with vegetable oil. Consumer criticism followed, and affected products were relabeled because they no longer met the U.S. regulatory definition of milk chocolate.
2006
Salmonella-related product recall
Hershey temporarily closed its Smiths Falls, Ontario, plant and voluntarily recalled products after possible Salmonella contamination was associated with soy lecithin in the production line.
1937
Violent labor conflict during failed sit-down strike
A CIO-backed organizing effort culminated in a failed sit-down strike. Strikers were attacked as they attempted to leave the plant, and the episode became one of the most controversial labor events in Hershey's history.
Marketing campaigns
- 2026Sour Strips creator-led social marketing
United States
Following its acquisition of Sour Strips, Hershey continued to use founder Maxx Chewning's creator-led voice, social media and meme culture to preserve the brand's digital-native identity. The approach maintained founder involvement in marketing and innovation while Hershey expanded retail distribution.
Outcome. The approach maintained founder involvement in marketing and innovation while Hershey expanded retail distribution.
- 2024Reese's Caramel Big Cup Big Game campaign
United States
Hershey used a high-profile Big Game advertising campaign to support Reese's Caramel Big Cup, its first Big Game advertisement for the brand since 2020. The campaign reinforced Reese's presence in a major U.S. cultural and advertising event and supported the brand's product innovation platform.
Outcome. The campaign reinforced Reese's presence in a major U.S. cultural and advertising event and supported the brand's product innovation platform.
- 2024Shaq-A-Licious XL Gummies
United States
Hershey partnered with Shaquille O'Neal to launch Shaq-A-Licious XL Gummies, using the athlete and entertainer's large-scale persona to broaden the company's gummies and non-chocolate sweets portfolio. The launch added a personality-led product platform to Hershey's sweets lineup and was incorporated into the company's 2024 brand history.
Outcome. The launch added a personality-led product platform to Hershey's sweets lineup and was incorporated into the company's 2024 brand history.
- 2019Yuengling Hershey's Chocolate Porter
United States
Hershey collaborated with Yuengling to create a limited-release chocolate porter using the Hershey's brand, representing the company's first licensed beer partnership. The partnership extended Hershey's brand into an adult beverage occasion without making beer a core manufacturing category.
Outcome. The partnership extended Hershey's brand into an adult beverage occasion without making beer a core manufacturing category.
Brand decisions
2026
Launch ONE Hershey U.S. operating modelStrategyBackground
Hershey's U.S. portfolio had expanded across sweet, salty and protein categories, creating an organizational need for more integrated commercial planning and execution.
Action taken
The company unified U.S. commercial activity across the three categories, centralized global brand marketing and expanded Andrew Archambault's U.S. leadership responsibilities. Nitin Jain joined the executive leadership team as chief strategy and transformation officer.
Aftermath
The model is intended to improve customer partnerships, integrate consumer insights and accelerate portfolio-wide growth.
2026
Announce planned Kit Kat recipe enhancementGeneration changeBackground
Hershey announced product renovation efforts intended to improve taste and texture while responding to changing ingredient preferences and portfolio standards.
Action taken
The company said Kit Kat would receive a creamier recipe beginning in 2027. It also stated that its classic Hershey's bar and Reese's cup recipes were unchanged.
Aftermath
The planned change positions recipe renovation as part of Hershey's broader product-quality and ingredient strategy.
2021
Acquire Lily's, Dot's and Pretzels Inc.M&ABackground
Hershey targeted faster-growing positions in low-sugar confectionery and salty snacks while increasing manufacturing control.
Action taken
The company acquired Lily's in June and announced or completed the acquisition of Dot's Homestyle Pretzels and Pretzels Inc. in the same year.
Aftermath
The transactions strengthened Hershey's sweet, salty and better-for-you portfolio and supported a broader snacking strategy.
2017
Acquire Amplify Snack BrandsM&ABackground
Hershey sought to broaden its business beyond confectionery and gain scale in popcorn and permissible salty snacks.
Action taken
Hershey acquired Amplify Snack Brands in an all-cash transaction valued at approximately $1.6 billion, including SkinnyPop.
Aftermath
The acquisition accelerated Hershey's development as a broader snacking company and created a platform for later salty-snack acquisitions.
Transaction value. Approximately $1.6 billion (2017 acquisition)
2016
Reject proposed Mondelez combinationM&ABackground
Mondelez International made a cash-and-stock proposal reported at approximately $23 billion for Hershey. The proposal followed earlier interest in combining two large global confectionery portfolios.
Action taken
Hershey rejected the proposal, with opposition from the Hershey Trust playing a decisive role in ending discussions.
Aftermath
Hershey remained independent and continued pursuing internal portfolio diversification through salty snacks, protein products and better-for-you confectionery.
Reported proposal value. $23 billion (2016 proposed transaction)
2002
Abandon proposed sale to WrigleyM&ABackground
The Hershey Trust Company sought to sell its controlling interest, and Wrigley proposed acquiring Hershey for approximately $12.5 billion. The proposed transaction faced opposition from Pennsylvania officials, local stakeholders and supporters of Milton Hershey School.
Action taken
Hershey abandoned the sale after 55 days of public and institutional opposition. Several trustees were removed or resigned, and replacement trustees reaffirmed the trust's continuing influence.
Aftermath
The episode established the Hershey Trust's governance position as a major constraint on future takeover proposals.
Proposed transaction value. $12.5 billion (2002 proposed sale)
Recent events
- 2024
Hershey warns that cocoa inflation will pressure earnings[10]
Pricing · Other
The Hershey Company reported that unusually high cocoa costs and broader inflation were creating significant pressure on margins and expected financial performance.
- 2021
Hershey expands its portfolio through the acquisition of Dot's Pretzels[10]
M&A
The Hershey Company completed its acquisition of Dot's Pretzels, broadening its business beyond traditional confectionery into salty snacks.
- 2021
Hershey acquires Lily's to strengthen its better-for-you confectionery portfolio[10]
M&A
Hershey acquired Lily's, a brand known for chocolate products positioned around reduced-sugar formulations, adding another growth platform to its confectionery portfolio.
- 2017
Hershey acquires Amplify Snack Brands[10]
M&A
Hershey completed its acquisition of Amplify Snack Brands, adding SkinnyPop and other snack products and signaling a broader strategy beyond chocolate.
Sources23 sources
- 1The Hershey Company: A History of Goodnessthehersheycompany.com
- 2The Hershey Company 2025 Form 10-Ksec.gov
- 3Our Leadershipthehersheycompany.com
- 4Our Management Teamthehersheycompany.com
- 5Kirk Tanner appointed CEOthehersheycompany.com
- 6ONE Hershey operating modelthehersheycompany.com
- 7The Hershey Company Wikipedia articleen.wikipedia.org
- 8Sour Strips acquiredthehersheycompany.com
- 9Announce planned Kit Kat recipe enhancementthehersheycompany.com
- 10好时警告可可通胀将拖累盈利thehersheycompany.com
- 11Hershey Announces New Renewable Energy Agreements Aligned with 2030 Goal to Reduce Emissions by More Than 50%prnewswire.com
- 12Hershey Appoints Dutkowsky to Board of Directorspowderbulksolids.com
- 13Hershey Company Introduces New Ice Cream Bars | BOB 94.9 | WHP580 Newsroombob949.iheart.com
- 14Hershey Completes Acquisition of Dot's Pretzels and Pretzels Inc.prnewswire.com
- 15Hershey Completes Acquisition of Lily's Confectionery Brandprnewswire.com
- 16Hershey Reports Fourth-Quarter and Full-Year 2020 Financial Results; Provides 2021 Outlookprnewswire.com
- 17Hershey Reports Fourth-Quarter and Full-Year 2021 Financial Results; Provides 2022 Outlookprnewswire.com
- 18Hershey Reports Second-Quarter 2021 Financial Results; Updates 2021 Net Sales and Earnings Outlookprnewswire.com
- 19Hershey Reports Third-Quarter 2021 Financial Results; Raises 2021 Net Sales and Earnings Outlookprnewswire.com
- 20Hershey teams up with The a2 Milk Company to create a co-branded chocolate milkfoodnavigator.com
- 21Mogul Partners with Company Leaders on Diversity and Inclusion to Bring More Women into Positions of Powerprnewswire.com
- 22Reese's Unveils New Halloween Candy Lineup | WHP 580 | iHeart Central PA Communitywhp580.iheart.com
- 23The Hershey Co. Acquires Lily'sspecialtyfood.com
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