Hershey Revives 120-Year-Old Idea for New Candy Brand

When Hershey, Pa.-based The Hershey Company (NYSE: HSY  ) decided to start up its first entirely new candy brand in 30 years, it reached way back for its idea.

Hershey's newest candy: Lancaster caramel soft cremes. Source: The Hershey Company.

On Thursday, Hershey announced the introduction of the Lancaster brand of soft caramel candies, harking back to the company's foundation, when Milton Hershey established The Lancaster Caramel Co. in the Pennsylvania town of the same name in 1886. The company says its new candy, which should debut in America in January, offers a "long-lasting and unique taste experience that is distinct from the typical caramels that dominate the category."

Hershey noted in its press release that it has already introduced the new candy in China. Hershey said this was the first time in its 120-year history that the company has launched a new brand outside the U.S. first. This is the first time in three decades the company has launched a new brand that is not a brand extension or acquisition.

The "soft, rich and creamy" Lancaster candy will initially be offered in three flavors in the U.S. -- caramel, vanilla and caramel, and vanilla and raspberry. The company plans to sell it at all the usual drug, grocery, and convenience store outlets, and to offer the candy in either 4 oz. bags retailing for $2.49, or 8 oz. bags for $3.99.

"China and the U.S. are major focus markets for the company," Steven Schiller, senior vice president of sweets and refreshment, told The Associated Press. China is the second-largest sweets market behind the U.S., he added.

Caramel is also a fast-growing category globally, Schiller said, growing faster than chocolate and other non-chocolate candies.

-- Material from The Associated Press was used in this report.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2679106, ~/Articles/ArticleHandler.aspx, 8/30/2014 4:25:34 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 19 hours ago Sponsored by:
DOW 17,098.45 18.88 0.11%
S&P 500 2,003.37 6.63 0.33%
NASD 4,580.27 22.58 0.50%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

8/29/2014 4:04 PM
HSY $91.42 Down -0.52 -0.57%
The Hershey Compan… CAPS Rating: ***

Advertisement