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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]
Its assets include Hershey Entertainment and Resorts Company, a controlling stake in the Hershey Company, and ownership of the Hershey Trust Company itself. 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.
Hershey Creamery Company, also known as Hershey's Ice Cream, is an American creamery that produces ice cream, sorbet, sherbet, frozen yogurt, and other frozen desserts such as smoothies and frozen slab-style ice cream mixers. It was founded by Jacob Hershey and four of his brothers in 1894 and taken over by the Holder family in the 1920s.
Hershey stock soared on Dec. 9 after news broke that Mondelez had approached the company with a takeover offer. Mondelez tried to buy Hershey in 2016 for $23 billion but was turned down.
Shares of Hershey, which has a market capitalization of about $35 billion, rose as much as 19% to $208.03, while those of Mondelez were down about 4% in morning trading. Mondelez, which is valued ...
Hershey has followed that formula for years: buying sugar and. In Berkshire Hathaway's 2011 letter to shareholders, Warren Buffett wrote, "'Buy commodities, sell brands' has long been a formula ...
In 1976, the company changed its name from Hershey Estates to Herco, Inc., because of public perception that Hershey Estates referred to land that Milton Hershey once owned. [16] The new name was found to be confusing, so Herco began doing business as Hershey Entertainment & Resort Co. in 1980. [ 17 ]
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.