The FIA Council is pleased to welcome The Hershey Company (NYSE: HSY), the largest producer of quality chocolate in North America and a global leader in chocolate and sugar confectionery, as its newest member.
Bringing FIA’s membership to 24 companies, the Hershey Company, founded in 1894, today employs around 15,000 people and has operations in more than 90 countries.
The company’s portfolio includes many well-known and iconic consumer brands such as Reese's, Hershey's Kisses, Hershey's Bliss, Hershey's Special Dark, Kit Kat, Twizzlers, Jolly Rancher and Ice Breakers. Generating revenues of more than USD 7.1 billion in 2013, the company is focused on growing its presence in key Asian markets such as China.
Sales of chocolate, candies and gum in China climbed 46% from 2007 to 2012, when they reached more than 79.6 billion yuan, or about USD 13 billion, according to market research firm Euromonitor International. To capitalise on this opportunity, the Hershey Company in December last year announced its 80 per cent acquisition
of the Shanghai Golden Monkey Food Joint Stock Co – a move that follows the opening of an innovation
centre in Shanghai earlier in the year.
These developments allow The Hershey Company to strengthen its foothold in one of the world’s fastest growing markets for sweets and accelerate its goal of achieving USD 10 billion in net sales by 2017.
Rick Camacho, Vice President Supply Chain - Asia, Europe, Middle East, and Africa at The Hershey Company said: “Asia is seeing fast-growing demand for high quality confectionary products and we are focused on growing our business in high potential markets in the region.”
“We are taking significant steps to increase our supply chain capabilities in Asia to enable us to provide high quality products that suit the tastes and lifestyles of local consumers. As we focus on growing our presence here, we’re delighted to be joining FIA. We believe working collaboratively with FIA’s other member companies will help us tackle opportunities and challenges within the region’s food industry,” Mr Camacho said.
FIA Executive Director, Bev Postma, welcomed The Hershey Company to the organisation.
“We are delighted The Hershey Company has joined our organisation. As a leader in the chocolate and confectionary industry, the company has a huge amount of insight and knowledge to bring to the FIA network,” she said.
For more information on joining FIA, please visit our Members Page
or contact the FIA Secretariat
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