Nestlé, Kraft Favourites to Snack On Hershey

29 July 2002

News that chocolate and candy brands Hershey – second only to Mom’s apple pie as an all-American symbol – may be put up for sale, sent analysts scrabbling for their crystal balls, which auto-tuned to Swiss foods giant Nestlé and Philip Morris-owned Kraft Foods as the likeliest buyers.

Other potential chocaholics are Cadbury Schweppes, PepsiCo, Wrigley and Mars.

The Milton Hershey School Trust, which holds 77% of the brand’s voting rights, is considering the sale to diversify its holdings, despite opposition from Hershey’s board. The business is expected to fetch up to $12 billion (€12.1bn; €7.6bn).

The trust runs a boarding school for disadvantaged children.

Data sourced from: Financial Times; additional content by WARC staff