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The Hershey Company, headquartered in Hershey, PA, is a global leader in the confectionery industry, renowned for delivering delicious chocolate, sweets, mints, and other snacks. Hershey has a rich legacy of over 120 years, driven by its mission of bringing goodness to the world. The company employs approximately 18,000 people globally who are dedicated to producing high-quality products every day.
With an impressive portfolio of more than 100 brands, including iconic names such as Hershey's, Reese's, Kit Kat, Jolly Rancher, and Ice Breakers, Hershey generates over $10.4 billion in annual revenues. The company's products are available in about 80 countries, though a significant portion of its sales is concentrated in North America. Hershey continues to expand its footprint in international markets such as Brazil, India, and Mexico.
Hershey is not only focused on its core confectionery business but is also diversifying into other snack categories. This includes acquisitions like Amplify Snack Brands, known for SkinnyPop, Pirate Brands, and Dot's Pretzels. These strategic moves are part of Hershey's efforts to provide a broader range of products and cater to evolving consumer preferences.
Financially, Hershey has shown robust performance, with strong net sales growth and gross margin expansion. The company has reaffirmed its sales outlook for 2024, driven by innovation and strategic investments. Hershey's recent initiatives include expanding capacity, improving supply chain efficiencies, and increasing brand investment to boost market share and meet consumer demand.
Environmental sustainability is a key focus for Hershey. The company has committed to achieving deforestation-free supply chains for key ingredients by 2025, enhanced by satellite monitoring partnerships to ensure compliance. It also engages in reforestation and forest conservation efforts, particularly in regions like Ghana and Côte d'Ivoire, to promote biodiversity and reduce greenhouse gas emissions.
Hershey continues to uphold its commitment to ethical business practices, sustainability, and community support, embodying the values set forth by its founder, Milton Hershey. The company is dedicated to making a positive impact on both a local and global scale.
Hershey's announced the winner of the 2021 Cadbury Bunny Tryouts: Betty the Australian White's Treefrog from Stuart, FL. Betty, the first amphibian and female winner, will star in the Cadbury Clucking Bunny Commercial airing this spring and receive a $5,000 cash prize. Over 12,000 entries were submitted this year, marking a record for the tryouts. Additionally, Cadbury is donating $15,000 to the ASPCA. The event emphasizes Hershey's commitment to community and animal welfare.
The Reese's brand is engaging with fans during March Madness through a Twitter giveaway featuring their new Reese's Big Cups with Pretzels. Starting March 18, 2021, fans can enter to win these treats by following, retweeting, and using specific hashtags. The promotion allows 1,200 fans to win during the tournament, which concludes April 5, 2021. Additionally, Reese's will distribute their new product in select college towns. The initiative aims to connect with fans while embracing the excitement and frustrations of the basketball season.
The Cadbury brand has announced the top 10 finalists for the 2021 Cadbury Bunny Tryouts, where voters will choose a pet to star in the Easter commercial. The competition received over 12,000 entries, with public voting open until March 17. The winner will be revealed on March 23 and will receive $5,000 along with the role in the commercial. Additionally, Cadbury is donating $15,000 to the ASPCA to support animal welfare. This year's contest marks a record number of entries, emphasizing the importance of pets during the past year.
The Reese's brand, a part of Hershey, has launched its first-ever Organic Reese's Peanut Butter Cups. Available in both dark and milk chocolate, these cups are certified USDA Organic, Non-GMO Project Verified, and Rainforest Alliance Certified. Each 1.4 oz pack is priced at $1.99 and will hit shelves nationwide starting February 2021. This marks a significant step for the brand, aiming to cater to organic consumers while maintaining the iconic Reese's flavor. Additionally, Hershey is introducing other organic options, including milk chocolate bars.
At the 2021 CAGNY conference on February 17, The Hershey Company (NYSE: HSY) executives Michele G. Buck and Steven E. Voskuil discussed the company's strategic advancements and priorities for 2021. The presentation emphasized Hershey's focus on achieving sustainable, profitable growth while enhancing long-term shareholder value. For additional details, the presentation slides are available on their corporate website under the 'CALENDAR OF EVENTS' section.
The Hershey Company (NYSE: HSY) has unveiled strategies aimed at enhancing its position in the better-for-you chocolate market. Key initiatives include expanding its portfolio with reduced sugar, organic, and plant-based options. The strategy emphasizes innovation, partnerships, and acquisitions to meet changing consumer demands. Notably, Hershey has partnered with ASR Group for an investment in Bonumose, focusing on plant-based sweeteners. This approach is expected to foster long-term growth in the healthy snack sector, catering to consumers' evolving preferences.
American Sugar Refining, part of ASR Group, has invested in Bonumose, Inc. to produce affordable, plant-based sweeteners like tagatose and allulose. This Series B investment, co-led by The Hershey Company (NYSE: HSY), aims to meet growing consumer demand for healthier alternatives. Bonumose's patented process allows production from low-cost plant starches, yielding sugar-like taste and texture with fewer calories. ASR Group will serve as Bonumose's distributor in North America and Europe, enhancing its product offerings.
The Hershey Company (NYSE: HSY) declared quarterly dividends of $0.804 on Common Stock and $0.731 on Class B Common Stock, payable on March 15, 2021. The dividend announcements mark the 365th consecutive dividend on Common Stock and the 146th for Class B shares, demonstrating the company's ongoing commitment to returning value to shareholders.