2/17/2021

News Detail Page

Hershey Sets Sights On Leading
Better-for-you Confection
SHARE THIS PAGE

HERSHEY, Pa., Feb. 17, 2021 /PRNewswire/ -- The Hershey Company (NYSE: HSY)
today shared key strategies to expand and grow the better-for-you chocolate
category with new and differentiated capabilities.

Hershey has long offered a wide variety of choices for consumers to enjoy theirfavorite confection brands, from its beloved Reese's Peanut Butter cups, tominiature size offerings, thinner versions (Reese's THiNs) or one with zero sugar,there is a treat for every occasion. Now, the maker of the original, portioncontrolled chocolate, Hershey's Kisses Milk Chocolates, is extending its confection
leadership in the better-for-you category.
Better-for-you snackers represent a variety of interests, from those seeking
portion-control to plant-based ingredients. And when it comes to candy, sugar
reduction is a shared interest they all have in common. Building from its strengthin portion-controlled choices, Hershey will expand its future portfolio to deliver
more reduced sugar, organic and plant-based alternatives while also continuing tobuild its classic array of beloved products. Behind this portfolio growth is a multipronged strategy that will continue to advance Hershey's leadership in confection
and snacking.
https://www.thehersheycompany.com/content/corporate_SSF/en_us/news-detail.html?122605

1/4

2/17/2021

News Detail Page

This long-term strategy includes:
Core brand packaging and platforms: continuing to offer portion-controlled
treats in a variety of packtypes
Innovation: extending core brands to BFY offerings and renovating existingproducts to extend choices
Research and Development: focusing internal efforts and external investments todevelop future breakthrough sugar reduction capabilities and recipes that deliver
great tastes and textures while meeting the changing needs of some snackers
Partnerships, Licensing & M&A: teaming up with top BFY brand partners to codevelop and launch new offerings
M&A: evaluating a pipeline of acquisition opportunities to deliver incremental
occasions and access for consumers that Hershey core brands don't reach today"We are the leader in U.S. confection, and our consumers rely on us to understandtheir needs for everyday moments, seasons and special occasions, offering highquality and great tasting candy that's accessible for everyone, said Kristen Riggs,Chief Growth Officer at Hershey. "Expanding our expertise, building new
capabilities and delivering more choices in better-for-you confection is the next big
category opportunity for us to lead."
As part of its BFY confection strategy, Hershey has partnered with ASR Group—oneof the world's leading sweetener companies, to co-lead an equity investment inBonumose, Inc., a start-up company with breakthrough innovations in plant-based
food ingredients, including rare and natural sugars. The investment is part of
Hershey's C7 Ventures, which enables new avenues for growth through capital
investments in disruptive or emerging platforms focused on new occasions,
technologies and go-to-market opportunities. This investment enables a researchand development partnership to advance the tastes of not only zero- and reducedsugar chocolate, but also Hershey's broader BFY snack offerings going forward.
"We are setting the foundation for long-term sustainable growth in the better-foryou category at Hershey," says Hershey President, U.S. Chuck Raup. "Everything we
do is led by our consumers and our commitment to deliver only the most delicious
https://www.thehersheycompany.com/content/corporate_SSF/en_us/news-detail.html?122605

2/4

2/17/2021

News Detail Page

snacks. We are driven to provide more choices to ensure they enjoy our brands
and products in ways that are right for them."
About the Hershey Company
The Hershey Company is headquartered in Hershey, Pa., and is an industry-leading
snacks company known for bringing goodness to the world through its iconicbrands, remarkable people and enduring commitment to help children succeed.
Hershey has approximately 16,000 employees around the world who work every
day to deliver delicious, quality products. The company has more than 80 brands
around the world that drive more than $8 billion in annual revenues, including
such iconic brand names as Hershey's, Reese's, Kit Kat, Jolly Rancher, Ice Breakers,
SkinnyPop and Pirate's Booty.
For more than 125 years, Hershey has been committed to operating fairly, ethicallyand sustainably. Hershey founder, Milton Hershey, created the Milton Hershey
School in 1909 and since then the company has focused on helping children
succeed.
To learn more visit: www.thehersheycompany.com
Follow:
TwitterLinkedInFacebookYouTube
InstagramContact:
Allison Kleinfelter
The Hershey Company
Phone: 717-439-2159
akleinfelter@hersheys.com

https://www.thehersheycompany.com/content/corporate_SSF/en_us/news-detail.html?122605

3/4

2/17/2021

News Detail Page

SOURCE The Hershey Company

https://www.thehersheycompany.com/content/corporate_SSF/en_us/news-detail.html?122605

4/4