September 18, 2002 |
Board members of the charitable trust that controls Hershey Foods Corp. said late Tuesday that they would not sell the nation's largest candy maker after rejecting all offers. "The trust board has rejected all the bids that it received. It is asking the company to end the process of exploring the sale," Hershey Trust Co. spokesman Rick Kelly said.
December 16, 1998 |
Hershey Foods Corp. said it sold its dry pasta business to closely held New World Pasta for $450 million in cash, enabling it to concentrate on its candy operations. The Hershey, Pa.-based company, maker of Hershey's Kisses and chocolate bars and Reese's Peanut Butter Cups, will retain a stake of less than 10% in the unit that makes such pasta brands as Ronzoni and San Giorgio. The sale, expected to close at the end of January, ends Hershey's 32-year presence in the U.S.
May 9, 2002 |
Claiming that chocolate contains enough toxic metals such as lead to pose a health risk, especially for children, a California watchdog group Wednesday launched a lawsuit against major chocolate makers for failing to warn consumers of the alleged danger. The American Environmental Safety Institute said it is suing chocolate makers, including Hershey Foods Corp. and Mars Inc.
January 26, 2004 |
Here are some of the key upcoming business and economic events. Monday * National Assn. of Realtors reports on existing-home sales for December. * Treasury bill auction. * Congressional Budget Office releases 10-year budget forecast. * Among those reporting quarterly results: American Express Co., Hilton Hotels Corp., Kimberly Clark Corp., McDonald's Corp., Schering-Plough Corp., Texas Instruments Inc. and Tyson Foods Inc..
November 16, 2004 |
The world's dominant chewing-gum maker is about to get sweeter. Looking to extend more of its marketing might from gum to candy, Wm. Wrigley Jr. Co. announced Monday that it had agreed to buy Life Savers and Altoids from Kraft Foods Inc. in a $1.48-billion cash deal that refocused Kraft's attention on its trademark supermarket products. The agreement also includes the Creme Savers brand, as well as Trolli gummy candies, Sugus candies and other local and regional brands in the U.S.
February 17, 1994 |
New Jersey businessman Arnold Hansen-Sturm was sentenced to 18 months in prison Feb. 11, and fined $4,175 plus the costs of his imprisonment, for conspiring to buy and sell illicit caviar. His company, Hansen Caviar Co., was fined an additional $10,625. Washington law limits the amount of caviar that may be taken from the state's sturgeon, but Hansen Caviar bought an amount equalling the entire legal take (and worth about $2.
December 17, 2004 |
Irvine-based Mauna Loa Macadamia Nut Corp. was gobbled up Thursday by Hershey Foods Corp., which paid $130 million to purchase the world's leading seller of the exotic nut from buyout firm Shansby Group. San Francisco-based Shansby, which bought Mauna Loa for $40 million in September 2000, increased sales by an average of 30% a year since taking over the company, said partner Chuck Esserman. In the fiscal year ended June 30, Mauna Loa's sales reached $80 million.
August 7, 2002 |
Swiss food giant Nestle said Tuesday that it agreed to acquire the owner of the popular Hot Pockets brand for $2.6 billion in cash, a deal that would give Nestle the top position in the booming hand-held frozen-meals business. Nestle already owns the two best-selling frozen-food brands, Stouffer's and Lean Cuisine, as well as Ortega frozen Mexican entrees.
CALIFORNIA | LOCAL
April 7, 1991 |
Recession or no recession, when Millie Moya is depressed, she buys chocolate. She is "thinking hard about going on vacation" and said buying a car was out of the question. But she won't give up chocolate, because "a little comfort is good--and chocolate is affordable." Millie Moya is not alone. Americans consumed 11 pounds of "comfort" per capita in 1990, and some retailers and industry experts expect the figure to swell, despite the recession.