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Hershey Foods Corp

September 18, 2002 | From Associated Press
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 | Reuters
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 | From Reuters
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.
November 16, 2004 | From Associated Press
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.
January 26, 2004 | From Times Wire Services
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..
December 17, 2004 | Josh Friedman, Times Staff Writer
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.
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.
July 22, 2003 | From Reuters and Bloomberg News
A new round of so-called mini tender offers for stocks has critics warning, "Caveat venditor" -- let the seller beware. On Monday, telecom giant SBC Communications Inc. said a firm named Corporate Investments Inc. had made an offer to buy as much as 1% of SBC's shares directly from stockholders, at $23 each. Earlier this month, a Toronto-based firm named TRC Capital Corp. made an offer to buy as much as 2.4% of Delta Air Lines Inc. shares at $13.55 a share.
December 30, 2003 | From Bloomberg News
The United States has missed a deadline from the World Trade Organization to repeal a law that gives millions of dollars in tariff revenue to companies, exposing the U.S. to sanctions from the European Union, Canada and Japan. International Paper Co., Temple-Inland Inc. and Potlatch Corp. are among U.S. timber companies that stand to gain at least $800 million from preservation of the so-called Byrd amendment, because of duties on Canadian softwood. The Byrd amendment, enacted in 2000, is designed to help steel producers, farmers and other companies that say they are being hurt by illegal government subsidies or unfair pricing by foreign competitors.
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