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The trust was created in 1909 by a deed of trust from Milton and Catherine Hershey, granting 486 acres (197 ha) of land in Hershey for the establishment of the Milton Hershey School. [ 22 ] [ 23 ] In 1918, Milton Hershey quietly donated to the trust the bulk of his fortune, $60 million of stock in Hershey Chocolate Company (now the Hershey ...
The trust fund has a majority of voting shares in the Hershey Company, allowing it to keep control of the company. In 1951, the school was renamed the Milton Hershey School. The Milton Hershey School Trust also has 100% control of Hershey Entertainment and Resorts Company, which owns the Hotel Hershey and Hersheypark, among other properties.
The Hershey Company was founded by Milton S. Hershey in 1894 as the Hershey Chocolate Company, originally established as a subsidiary of his Lancaster Caramel Company. The Hershey Trust Company owns a minority stake but retains a majority of the voting power within the company. [6] Hershey's chocolate is available in 60 countries. [7]
The Hershey Trust Company's approval is key in any takeover deal, given its voting control of the chocolate maker. Hershey and Mondelez did not immediately respond to Reuters' requests for comment.
The Hershey Trust Company, a charitable trust that has as its sole beneficiary the Milton Hershey School, maintains voting control over The Hershey Company and its approval is key in any deal.
Established more than 120 years ago as an entity managing aspects of Hershey's business and philanthropic pursuits, including a school for orphaned boys, it controls most of the company's B shares.
The house was acquired in 1970 by the Milton Hershey School, which was used as an educational environment to teach early 20th-century building practices. In 1977 it was purchased by Hershey Foods for use as its corporate headquarters. [4] It presently serves as the offices of the Hershey Trust Company.
To quote the Hershey Trust Company: "Today, Hershey Trust Company stands alone as being the same company doing business in the same town for one hundred years. And their unique ownership structure ...