|
UNITED
STATES
|
|
SECURITIES
AND EXCHANGE COMMISSION
|
|
Washington,
D.C. 20549
|
|
______________________________
|
|
FORM
8-K
|
|
CURRENT
REPORT
|
|
Pursuant
to Section 13 or 15(d) of the
|
|
Securities
Exchange Act of 1934
|
|
January
24,
2007
|
|
Date
of Report (Date of earliest event
reported)
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|
The
Hershey
Company
|
|
(Exact
name of registrant as specified in its
charter)
|
|
Delaware
|
|
(State
or other jurisdiction of
incorporation)
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|
1-183
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23-0691590
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(Commission
File Number)
|
(IRS
Employer Identification No.)
|
|
100
Crystal A Drive, Hershey, Pennsylvania
17033
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|
(Address
of Principal Executive Offices) (Zip
Code)
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|
Registrant's
telephone number, including area code: (717)
534-4200
|
|
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under
any
of the following provisions:
|
|
[
]
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
|
[
]
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
[
]
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
|
[
]
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
|
INFORMATION
TO BE INCLUDED IN REPORT
|
Item
2.02
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Results
of Operations and Financial
Condition
|
On
January 24, 2007, The Hershey Company (“the Company”) announced sales and
earnings for the fourth quarter and full year ended December 31, 2006. A copy
of
the Company’s press release is attached hereto as Exhibit 99.1 and incorporated
herein by reference.
The
information in Item 2.02 of this Current Report, including the Exhibit, shall
not be deemed “filed” for the purposes of Section 18 of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the
liabilities under that Section, and shall not be incorporated by reference
into
any registration statement or other document filed under the Securities Act
of
1933, as amended, or the Exchange Act, except as shall be expressly set forth
by
specific reference in such filing.
|
Item
5.02
|
Departure
of Directors or Certain Officers; Election of Directors; Appointment
of
Certain Officers; Compensatory Arrangements of Certain
Officers
|
Also
on
January 24, 2007, the Company announced that David J. West, Senior Vice
President, Chief Financial Officer, has been elected Executive Vice President,
Chief Operating Officer, effective January 24, 2007. Mr. West will continue
to
hold the position of Chief Financial Officer until his successor to that
position is elected. Mr. West, who is 43 years old, has been Senior Vice
President, Chief Financial Officer since January 2005. Prior to that time,
he
held the following elected offices with the Company: Senior Vice President,
Chief Customer Officer (from June 2004 to January 2005); Senior Vice President,
Sales (from December 2002 to June 2004); Senior Vice President, Business
Planning and Development (from June 2002 to December 2002); and Vice President,
Business Planning and Development (from May 2001 to June 2002).
The
Company does not have an employment agreement with Mr. West. The Compensation
and Executive Organization Committee of the Company’s Board of Directors will
consider changes to Mr. West’s compensation at its regularly scheduled
meeting in February, 2007. Until such time, Mr. West’s compensation will
remain as described in the Company’s Current Report on Form 8-K filed with the
Securities and Exchange Commission on February 22, 2006 and in accordance with
the plans and programs outlined in the Company’s proxy statement for its 2006
annual meeting of stockholders, filed March 14, 2006.
A
copy of
the Company’s press release is attached hereto as Exhibit 99.2 and incorporated
herein by reference.
|
Item
9.01
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Financial
Statements and Exhibits
|
|
(c)
|
Exhibits
|
|
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99.1
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Press
Release dated January 24, 2007
|
|
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99.2
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Press
Release dated January 24, 2007
|
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Date:
January 24, 2007
|
THE
HERSHEY COMPANY
|
|
|
By:
/s/
David J.
West
|
|
|
David
J. West
Executive
Vice President, Chief Operating
Officer
|
EXHIBIT
INDEX
|
Exhibit
No.
|
Description
|
|
99.1
|
The
Hershey Company Press Release dated January 24, 2007
|
|
99.2
|
The
Hershey Company Press Release dated January 24, 2007
|
Exhibit
99.1
HERSHEY
ANNOUNCES FOURTH QUARTER AND
FULL-YEAR
2006 RESULTS; CONFIRMS EXPECTATIONS FOR 2007
l
Full-year diluted 2006 EPS from operations $2.37, +4.4% versus year
ago
l
New product platforms on-track and will receive increased focus in
2007
l
Outlook for 2007 growth in net sales 3-4% and EPS from operations
7-9%
HERSHEY,
Pa., January 24, 2007 —
The
Hershey Company (NYSE:HSY) today announced sales and earnings for the fourth
quarter ended December 31, 2006. Consolidated net sales were $1,336,609,000,
down 0.7 percent compared with $1,346,117,000 for the fourth quarter of 2005.
Reported net income for the fourth quarter of 2006 was $153,572,000 or $0.65
per
share-diluted, compared with $170,410,000 or $0.69 per share-diluted, for
the
comparable period of 2005.
For
the
fourth quarters of 2006 and 2005, these results, prepared in accordance with
generally accepted accounting principles (“GAAP”), include net pre-tax charges
of $5.6 million and $17.6 million, or $0.02 and $0.04 per share, respectively,
associated with the previously announced business realignment initiatives
to
advance the Company’s value-enhancing strategy. Net income from operations,
which excludes the net charges for the fourth quarters of 2006 and 2005,
was
$157,007,000 or $0.67 per share-diluted in 2006, compared with $178,623,000
or
$0.73 per share-diluted in 2005, a decrease of 8.2 percent in earnings per
share-diluted.
In
the
fourth quarter of 2006, as required by Securities and Exchange Commission
Staff
Accounting Bulletin No. 108, Considering
the Effects of Prior Misstatements When Quantifying Misstatements in Current
Year Financial Statements
(“SAB
No. 108”), the Company adopted a change in accounting principle which resulted
in a change to the revenue recognition policy. The primary impact of this
change
was to delay the recognition of revenue on goods in-transit to customers
at the
end of each period. The change was not material and had no significant impact
in
the fourth quarter or full year 2006. As permitted by SAB No. 108, the Company
elected to adjust financial statements for all prior periods to ensure
comparability. Adjusted financial results for the fourth quarter and full-year
2005 are reflected in this press release and adjusted quarterly results for
the
first three quarters of 2005 and 2006 are available on the corporate website
www.hersheys.com.
Fourth-Quarter
Performance
“Hershey’s
results for the fourth quarter were below expectations,” said Richard H. Lenny,
Chairman, President and Chief Executive Officer. “Although marketplace trends
showed improvement, with retail takeaway up three percent, net sales declined
by
approximately one percent as growth from new product platforms and seasons
didn’t offset slower base business shipments. Further, the impact of a product
recall in Canada affected both sales and profitability.
“Hershey’s
profitability was also affected by a higher level of obsolescence expense,
in
addition to the lower sales level and a sales mix profile that was less
profitable than expected. Increased obsolescence expense resulted from slower
than expected retail performance and the costs associated with scaling back
on
certain items in the portfolio. We will reverse these trends in 2007 with
a
growth plan driven by a step-up in core brand investment and support of new
product platforms that is clearly focused on improving both sales and
profitability.”
Full-Year
Results and Outlook
For
the
full year 2006, consolidated net sales were $4,944,230,000, compared with
$4,819,827,000, an increase of 2.6 percent. Reported net income for 2006
was
$559,061,000, or $2.34 per share-diluted, compared with $488,547,000, or
$1.97
per share-diluted, for 2005. For 2006 and 2005, these results, prepared in
accordance with GAAP, included net pre-tax charges of $11.6 million and $119.0
million, or $0.03 and $0.30 per share, respectively, associated
with the previously announced business realignment initiatives to advance
the
Company’s
value-enhancing strategy. Net income from operations, which excludes the
net
charges for 2006 and 2005, was $566,634,000, or $2.37 per share-diluted,
compared with $562,568,000 or $2.27 per share-diluted in 2005, an increase
of
4.4 percent in earnings per share-diluted.
In
commenting on the full year, Lenny said, “2006 was a difficult year for Hershey.
Following a solid first half, we experienced a slow-down in retail performance.
The necessary shift from line extensions to innovative new product platforms
took longer than anticipated. Progress on new product platforms such as dark
chocolate and refreshment has been strong, as these were Hershey’s fastest
growing businesses in 2006. In addition, Hershey’s seasonal business performed
well, posting share gains within each seasonal timeframe.
“For
2007, our priorities are clear. First, we’re committed to restoring core brand
growth through increased investment behind superior consumer and customer
programs. Second, we’ll accelerate news and programming in support of our
on-trend new product platforms, primarily dark and premium chocolate and
refreshment. Within the U.S. market, we’re taking the necessary steps to ensure
superior retail execution in support of these two initiatives. Third, in
selected high potential global markets, we’re following a disciplined approach
in pursuing appropriate growth opportunities.
“While
we
expect input costs to be broadly higher for 2007, we have plans in place
to
deliver improved gross margin. This will provide the necessary funds to invest
in our business.
“Our
number one goal is to restore Hershey’s performance in terms of sales, market
share and profitability. To achieve this, we’re taking the appropriate steps in
modifying the strategic direction and increasing the investment in support
of
these priority areas. We’re maintaining our long-term expectations of sales
growth of 3-4 percent and growth in diluted earnings per share from operations
of 9-11 percent. For 2007, we anticipate net sales growth to be in this 3-4
percent range. Given the increased investment behind our strategic priorities,
we anticipate the increase in diluted earnings per share from operations
to be
in the 7-9 percent range.” Lenny concluded.
Note: In
this
sales and earnings release, Hershey has provided income measures excluding
certain items described above, in addition to net income determined in
accordance with GAAP. These non-GAAP financial measures, as shown in the
attached pro forma income statements, are used in evaluating results of
operations for internal purposes. These non-GAAP measures are not intended
to
replace the presentation of financial results in accordance with GAAP. Rather,
the Company believes exclusion of such items provides additional information
to
investors to facilitate the comparison of past and present
operations.
Live
Web Cast
As
previously announced, the Company will hold a conference call with analysts
today at 8:30 a.m. Eastern Time. The conference call will be web cast live
via
Hershey’s corporate website www.hersheys.com.
Please
go to the Investor Relations section of the website for further
details.
Safe
Harbor Statement
This
release contains statements which are forward-looking. These statements are
made
based upon current expectations which are subject to risk and uncertainty.
Actual results may differ materially from those contained in the forward-looking
statements. Factors which could cause results to differ materially include,
but
are not limited to: our ability to implement and generate expected ongoing
annual savings from the initiatives to advance our value-enhancing strategy;
changes in raw material and other costs and selling price increases; our
ability
to implement improvements to and reduce costs associated with our supply
chain;
the impact of future developments related to the recent product recall and
temporary plant closure in Canada, including our ability to recover costs
we
incurred for the recall and plant closure from responsible third-parties;
pension cost factors, such as actuarial assumptions, market performance and
employee retirement decisions; changes in our stock price, and resulting
impacts
on our expenses for incentive compensation, stock options and certain employee
benefits; market demand for our new and existing products; changes in our
business environment, including actions of competitors and changes in consumer
preferences; changes in governmental laws and regulations, including taxes;
risks and uncertainties related to our international operations; and such
other
matters as discussed in our Annual Report on Form 10-K for 2005.
#
#
#
|
Financial
Contact:
|
Mark
Pogharian
|
717-534-7556
|
|
Media
Contact:
|
Kirk
Saville
|
717-534-7641
|
|
Summary
of Consolidated Statements of Income
|
|||||||||||||
|
for
the periods ended December 31, 2006 and December 31,
2005
|
|||||||||||||
|
(in
thousands except per share amounts)
|
|||||||||||||
|
Fourth
Quarter
|
Twelve
Months
|
||||||||||||
|
2006
|
2005
|
2006
|
2005
|
||||||||||
|
Net
Sales
|
$
|
1,336,609
|
$
|
1,346,117
|
$
|
4,944,230
|
$
|
4,819,827
|
|||||
|
Costs
and Expenses:
|
|||||||||||||
|
Cost
of Sales
|
854,543
|
821,936
|
3,076,718
|
2,956,682
|
|||||||||
|
Selling,
Marketing and Administrative
|
200,264
|
225,002
|
860,378
|
912,986
|
|||||||||
|
Business
Realignment Charge, net
|
5,437
|
11,694
|
14,576
|
96,537
|
|||||||||
|
Total
Costs and Expenses
|
1,060,244
|
1,058,632
|
3,951,672
|
3,966,205
|
|||||||||
|
Income
Before Interest and Income Taxes (EBIT)
|
276,365
|
287,485
|
992,558
|
853,622
|
|||||||||
|
Interest
Expense, net
|
31,528
|
24,255
|
116,056
|
87,985
|
|||||||||
|
Income
Before Income Taxes
|
244,837
|
263,230
|
876,502
|
765,637
|
|||||||||
|
Provision
for Income Taxes
|
91,265
|
92,820
|
317,441
|
277,090
|
|||||||||
|
Net
Income
|
$
|
153,572
|
$
|
170,410
|
$
|
559,061
|
$
|
488,547
|
|||||
|
Net
Income Per Share -
Basic - Common
|
$
|
0.68
|
$
|
0.72
|
$
|
2.44
|
$
|
2.05
|
|||||
|
- Basic - Class B
|
$
|
0.61
|
$
|
0.65
|
$
|
2.19
|
$
|
1.85
|
|||||
|
- Diluted
|
$
|
0.65
|
$
|
0.69
|
$
|
2.34
|
$
|
1.97
|
|||||
|
Shares
Outstanding -
Basic - Common
|
170,944
|
180,991
|
174,722
|
183,747
|
|||||||||
|
- Basic - Class B
|
60,816
|
60,818
|
60,817
|
60,821
|
|||||||||
|
- Diluted
|
235,292
|
245,417
|
239,071
|
248,292
|
|||||||||
|
Key
Margins:
|
|||||||||||||
|
Gross
Margin
|
36.1
|
%
|
38.9
|
%
|
37.8
|
%
|
38.7
|
%
|
|||||
|
EBIT
Margin
|
20.7
|
%
|
21.4
|
%
|
20.1
|
%
|
17.7
|
%
|
|||||
|
Net
Margin
|
11.5
|
%
|
12.7
|
%
|
11.3
|
%
|
10.1
|
%
|
|||||
|
The
Hershey Company
|
|||||||||||||
|
Pro
Forma Summary of Consolidated Statements of
Income
|
|||||||||||||
|
for
the periods ended December 31, 2006 and December 31,
2005
|
|||||||||||||
|
(in
thousands except per share amounts)
|
|||||||||||||
|
Fourth
Quarter
|
Twelve
Months
|
||||||||||||
|
2006
|
2005
|
2006
|
2005
|
||||||||||
|
Net
Sales
|
$
|
1,336,609
|
$
|
1,346,117
|
$
|
4,944,230
|
$
|
4,819,827
|
|||||
|
Costs
and Expenses:
|
|||||||||||||
|
Cost
of Sales
|
854,543
|
815,998
|
(c)
|
3,079,917
|
(e)
|
2,934,223
|
(c)
|
||||||
|
Selling,
Marketing and Administrative
|
200,106
|
(a)
|
225,002
|
860,112
|
(a)
|
912,986
|
|||||||
|
Business
Realignment Charge, net
|
---
|
(b)
|
---
|
(d)
|
---
|
(b)
|
---
|
(d)
|
|||||
|
Total
Costs and Expenses
|
1,054,649
|
1,041,000
|
3,940,029
|
3,847,209
|
|||||||||
|
Income
Before Interest and Income Taxes (EBIT)
|
281,960
|
305,117
|
1,004,201
|
972,618
|
|||||||||
|
Interest
Expense, net
|
31,528
|
24,255
|
116,056
|
87,985
|
|||||||||
|
Income
Before Income Taxes
|
250,432
|
280,862
|
888,145
|
884,633
|
|||||||||
|
Provision
for Income Taxes
|
93,425
|
102,239
|
321,511
|
322,065
|
|||||||||
|
Net
Income
|
$
|
157,007
|
$
|
178,623
|
$
|
566,634
|
$
|
562,568
|
|||||
|
Net
Income Per Share -
Basic - Common
|
$
|
0.70
|
$
|
0.76
|
$
|
2.47
|
$
|
2.36
|
|||||
|
- Basic - Class B
|
$
|
0.63
|
$
|
0.68
|
$
|
2.22
|
$
|
2.13
|
|||||
|
- Diluted
|
$
|
0.67
|
$
|
0.73
|
$
|
2.37
|
$
|
2.27
|
|||||
|
Shares
Outstanding -
Basic - Common
|
170,944
|
180,991
|
174,722
|
183,747
|
|||||||||
|
- Basic - Class B
|
60,816
|
60,818
|
60,817
|
60,821
|
|||||||||
|
- Diluted
|
235,292
|
245,417
|
239,071
|
248,292
|
|||||||||
|
Key
Margins:
|
|||||||||||||
|
Adjusted
Gross Margin
|
36.1
|
%
|
39.4
|
%
|
37.7
|
%
|
39.1
|
%
|
|||||
|
Adjusted
EBIT Margin
|
21.1
|
%
|
22.7
|
%
|
20.3
|
%
|
20.2
|
%
|
|||||
|
Adjusted
Net Margin
|
11.7
|
%
|
13.3
|
%
|
11.5
|
%
|
11.7
|
%
|
|||||
|
(a)
Excludes business realignment charge of $0.2 million pre-tax or
$0.1
million after-tax for the fourth quarter and $0.3 million pre-tax
or $0.2
million after-tax for the twelve months.
|
|||||||||||||
|
(b)
Excludes business realignment charge of $5.4 million pre-tax or
$3.3
million after-tax for the fourth quarter and $14.5 million pre-tax
or $9.4
million after-tax for the twelve months.
|
|||||||||||||
|
(c)
Excludes business realignment charge of $5.9 million pre-tax or
$(0.6)
million after-tax for the fourth quarter and $22.5 million pre-tax
or
$13.4 million after-tax for the twelve months.
|
|||||||||||||
|
(d)
Excludes business realignment charge of $11.7 million pre-tax or
$8.8
million after-tax for the fourth quarter and $96.5 million pre-tax
or
$60.6 million after-tax for the twelve months.
|
|||||||||||||
|
(e)
Excludes business realignment credit of $(3.2) million pre-tax
or $(2.0)
million after-tax for the twelve
months.
|
|||||||||||||
|
The
Hershey Company
|
|||||||
|
Consolidated
Balance Sheets
|
|||||||
|
as
of December 31, 2006 and December 31, 2005
|
|||||||
|
(in
thousands of dollars)
|
|||||||
|
Assets
|
2006
|
2005
|
|||||
|
Cash
and Cash Equivalents
|
$
|
97,141
|
$
|
67,183
|
|||
|
Accounts
Receivable - Trade (Net)
|
522,673
|
507,119
|
|||||
|
Deferred
Income Taxes
|
61,360
|
73,203
|
|||||
|
Inventories
|
648,820
|
634,910
|
|||||
|
Prepaid
Expenses and Other
|
87,818
|
93,988
|
|||||
|
Total
Current Assets
|
1,417,812
|
1,376,403
|
|||||
|
Net
Plant and Property
|
1,651,300
|
1,659,138
|
|||||
|
Goodwill
|
501,955
|
487,338
|
|||||
|
Other
Intangibles
|
140,314
|
142,626
|
|||||
|
Other
Assets
|
446,184
|
597,194
|
|||||
|
Total
Assets
|
$
|
4,157,565
|
$
|
4,262,699
|
|||
|
Liabilities
and Stockholders' Equity
|
|||||||
|
Loans
Payable
|
$
|
843,998
|
$
|
819,115
|
|||
|
Accounts
Payable
|
155,517
|
167,812
|
|||||
|
Accrued
Liabilities
|
454,023
|
486,832
|
|||||
|
Taxes
Payable
|
--
|
16,623
|
|||||
|
Total
Current Liabilities
|
1,453,538
|
1,490,382
|
|||||
|
Long-Term
Debt
|
1,248,128
|
942,755
|
|||||
|
Other
Long-Term Liabilities
|
486,473
|
412,929
|
|||||
|
Deferred
Income Taxes
|
286,003
|
400,253
|
|||||
|
Total
Liabilities
|
3,474,142
|
3,246,319
|
|||||
|
Total
Stockholders' Equity
|
683,423
|
1,016,380
|
|||||
|
Total
Liabilities and Stockholders' Equity
|
$
|
4,157,565
|
$
|
4,262,699
|
|||
Exhibit
99.2
The
Hershey Company Names David J. West
Executive
Vice President, Chief Operating Officer
Hershey,
Pa., January 24, 2007—
Richard
H. Lenny, Chairman, President and Chief Executive Officer, The Hershey Company
(NYSE:HSY), today announced that David J. West has been named Executive Vice
President, Chief Operating Officer, effective immediately. West, age 43, will
continue to report to Lenny and will be responsible for the company’s day-to-day
operations, including Hershey’s North American Commercial Group, International
Commercial Group, and global supply chain activities. A search is underway
for a
successor to West as the company’s Senior Vice President, Chief Financial
Officer. West will continue to hold the position of Chief Financial Officer
until his successor is named.
In
making
the announcement, Lenny said, “Dave’s broad experience throughout the Hershey
organization makes him well-suited to be our chief operating officer. Dave
has
provided exceptional leadership in the areas of finance and sales while at
Hershey, earning the respect of the financial community and our customers.
He
also was instrumental in the development of our value-enhancing strategy, as
we
delivered strong performance and tapped the vast potential of Hershey’s iconic
brands. Dave’s in-depth knowledge and collaborative leadership style will be
invaluable as we build Hershey’s momentum and aggressively pursue the company’s
growth opportunities.”
With
West’s appointment as chief operating officer, Lenny, in his role as chairman,
president and chief executive officer, will continue to focus on the strategic
direction of the business that will build shareholder value over the long term.
This includes global innovation and leadership development.
“The
needs of our business have changed as the consumer, customer and competitive
landscape continues to evolve,” commented Lenny. “Today’s announcement will
ensure that we have the breadth of executive leadership in place both to pursue
Hershey’s strategic growth opportunities and to deliver on marketplace and
financial expectations.”
West
first joined The Hershey Company in May 2001 as Vice President, Business
Planning and Development. He was named Senior Vice President, Business Planning
and Development, in 2002 and later, promoted to Senior Vice President, Chief
Customer Officer. He was named Senior Vice President, Chief Financial Officer,
in 2005.
Prior
to
joining Hershey, West was Senior Vice President, Chief Financial Officer,
Nabisco Biscuit and Snacks Group, with responsibility for leading the financial
function of Kraft Foods’ biscuits, confections and snacks businesses. He joined
Nabisco as Senior Cost Analyst, Planters/Life Savers Company in 1987. During
his
14-year career with Nabisco, he served as Vice President, Corporate Strategy
and
Business Planning, and Director, Investment Analysis, among others. He
previously held positions in finance and cost accounting with Wearever
Proctor-Silex and Unisys.
A
native
of the Lehigh Valley, Pa., West received a bachelor’s degree, cum laude, in
business administration from Bucknell University, Lewisburg, Pa.
About
The Hershey Company
The
Hershey Company (NYSE: HSY) is the largest North American manufacturer of
quality chocolate and sugar confectionery products. With revenues of nearly
$5
billion and more than 13,000 employees worldwide, The Hershey Company markets
such iconic brands as Hershey's,
Reese's, Hershey's Kisses, and
Ice
Breakers.
Hershey
is the leader in the fast-growing dark and premium chocolate segment, with
such
brands as Hershey’s
Special
Dark,
Hershey’s
Extra Dark
and
Cacao
Reserve by Hershey’s. Hershey’s
Ice
Breakers
franchise delivers refreshment across a variety of mint and gum flavors and
formats. In addition, Hershey leverages its iconic brands, marketplace scale
and
confectionery and nut expertise to develop and deliver substantial snacks,
including Hershey’s
and
Reese’s
single-serve cookies and brownies, and value-added snack nuts, including
Hershey’s
Milk Chocolate Covered Almonds
and
Hershey’s
Special Dark Chocolate Covered Almonds.
Hershey
also offers a range of products to address the health and well-being needs
of
today's consumer. Hershey’s
and
Reese’s
Snacksters
offer
consumers great-tasting snacks in portion-controlled servings, while Hershey’s
dark chocolate offerings provide the benefits of flavanol antioxidants. In
addition, Artisan Confections Company, a wholly owned subsidiary of The Hershey
Company, markets such premium chocolate offerings as Scharffen
Berger,
known
for its high-cacao dark chocolate products, Joseph
Schmidt,
recognized for its fine, handcrafted chocolate gifts, and Dagoba,
known
for its high-quality natural and organic chocolate bars. Visit us at
www.hersheynewsroom.com.
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Media
Contact:
|
Kirk
Saville
|
717-534-7641
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