Hershey Foods Corporation: The North American Snack – Food Maker's Growth Strategies
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Code : COM0065
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Region : US
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The Inception of the North Amarican Snack - Food Producer Hershey was started in 1894, as a subsidiary of Lancaster Caramel Company owned by Milton Hershey, under the name 'Hershey Chocolate Company'. Hershey Chocolate Company produced cocoa, baking chocolate and sweet chocolate. Within one-year of its inception, Hershey began producing 114 varieties of chocolate. Popular among them were 'Chocolate cigarettes and segars'. In 1896, Milton Hershey established a milk processing plant in Derry Township, Pennsylvania and in 1899, Milton Hershey pioneered in manufacturing milk chocolate.. Growth Strategies In early 1999, Hershey forayed into the lollipop segment by introducing 'Jolly Rancher lollipop'. This was Hershey's attempt to improve its products leveraging on the enduring fruit flavour of Jolly Rancher candies. Mean while, Hershey planned to focus more on its grocery and confectionery businesses and in 1999 the company sold its pasta business to a leading USmanufacturer of dry pasta 'New World Pasta'for $450 million... |
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