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.............................. Hershey Foods Corporation
Logo and Trademark..............................
The Hershey Company (NYSE: HSY), until April 2005 Hershey Foods Corporation, commonly called Hershey's, is America's largest chocolate company. Its headquarters is in Hershey, Pennsylvania, a town permeated by the aroma of cocoa on some days, and home to Hershey's Chocolate World. It was founded by Milton S. Hershey in 1894 as the Hershey Chocolate Company, a subsidiary of his Lancaster Caramel Company. Hershey's candies and other products are sold worldwide.
Hershey's is one of the oldest chocolate companies in the United States, and an American icon for its chocolate bar. The Hershey Company owns many other candy companies and is also affiliated with Hershey Entertainment and Resorts Company, which runs Hersheypark, a chocolate-themed amusement park; the Hershey Bears hockey team; Hersheypark Stadium; and the GIANT Center.
The first plant outside Hershey, Pennsylvania opened on June 15, 1963 in Smiths Falls, Ontario, Canada. Another plant, covering two million square feet of manufacturing space (185,000 square meters), is the largest chocolate factory in the world; the factory opened on May 22, 1965 in Oakdale, California. These are the major factories for Hershey's, as tours are offered in the Smiths Falls, Ontario, Canada and Oakdale, CA plants. Tours were operated in the Pennsylvanian factory, but this no longer the case. Visitors to Hershey, Pennsylvania can now experience Hershey's Chocolate World visitors' center and its simulated tour ride. Hershey's has announced that their Smiths Falls, Ontario and Oakdale, CA plants will be closed by January 2008 and replaced by a facility in Mexico.
On July 25, 2002 it became public knowledge that the Hershey Trust Company was seeking to sell its controlling interest in the Hershey Foods Corporation. The value of Hershey stock skyrocketed 25% with over 19 million shares trading that day. However, over the next 55 days, widespread press coverage, as well as pressure from Pennsylvania Attorney General Mike Fisher, the Community of Hershey, and Dauphin County Orphans' Court Senior Judge Warren G. Morgan, led to the sale being abandoned. The seven Hershey Trustees who voted to sell Hershey Foods on September 17, 2002, for US$12.5 billion to the William Wrigley Jr. Company were removed by Attorney General Fisher and Judge Morgan. Ten of the 17 Trustees were forced to resign and four new members who lived locally were appointed. The former Pennsylvania Attorney General, LeRoy S. Zimmerman, became the new Chairman of the reconstituted Milton Hershey School Trustees. Mr. Zimmerman has publicly committed to having the Milton Hershey School Trust always retain its controlling interest in The Hershey Company.
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