The Hershey Company

Confectionery and snackingFounded 1894

Market Data Current As Of: September 12, 2026

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The Hershey Company

Confectionery and snackingFounded 1894

Reviewed by Swet Parvadiya

Last reviewed: September 12, 2026

Market Data Current As Of: September 12, 2026

Company History

The Hershey: Founding, Growth & Key Milestones

Founded 1894 in Hershey, Pennsylvania

Founding Story

Founded in 1894 by Milton S. Hershey in Lancaster, Pennsylvania, the company has built a multi-billion-dollar enterprise anchored by its brand equity in the North American chocolate market, where it controls over 40% of the category. Undeterred, Milton returned to Lancaster in 1886 and founded the Lancaster Caramel Company, using the secret caramel recipe he had learned in Denver. He installed the equipment in a corner of his caramel factory and began experimenting with milk chocolate formulations, driven by a vision to mass-produce a high-quality, affordable milk chocolate bar for the American public. In 1900, Milton launched the Hershey's Milk Chocolate Bar, a product that was revolutionary in its taste, texture, and affordability. He chose a remote, rural area in Derry Township, Pennsylvania, near his childhood home, and began construction of the Hershey Chocolate Company factory in 1903.

Founders

Milton S. Hershey

The Hershey Company possesses arguably the most legendary, utopian founding story in American industrial history, rooted in the relentless persistence of a man who failed spectacularly before inventing the modern American chocolate industry. The company was founded by Milton S. Hershey. His early career was characterized by crushing failure. He started two separate candy companies (in Philadelphia and New York) that both ended in bankruptcy. Finally, in 1886, he returned to his home state of Pennsylvania and founded the Lancaster Caramel Company, which became a profitable success. However, his foundational masterstroke occurred at the 1893 World's Columbian Exposition in Chicago, where he saw a fascinating demonstration of German chocolate-making machinery. He had an epiphany: caramels were a fad, but chocolate was a permanent fixture. He famously sold his lucrative caramel company for an astonishing $1 million in 1900 to focus entirely on chocolate. At the time, milk chocolate was a luxury, exclusively produced in Switzerland (by Nestle) using expensive processes. Hershey wanted to mass-produce it for the American working class. He spent years experimenting to boil milk and sugar in a vacuum to prevent it from spoiling, finally inventing the distinct, slightly tangy 'Hershey Process.' But his most legacy was not just the candy; it was the town. He used his wealth to build 'Hershey, Pennsylvania'—an utopian company town complete with subsidized housing, public transit, schools, and a legendary amusement park for his workers. He eventually placed the majority of the company's voting stock into a trust to perpetually fund the Milton Hershey School for orphaned children, ensuring his philanthropic vision permanently controls the corporate empire.

Key Milestones

1894

Hershey Founded

Milton S. Hershey founded the Hershey Chocolate Company after building expertise in caramel manufacturing.

1900

Milk Chocolate Bar Launch

Hershey launched a mass-market milk chocolate bar and helped make chocolate an everyday American product.

1963

Reese's Acquisition

Hershey acquired H.B. Reese Candy Company, adding what became one of the most powerful U.S. confectionery franchises.

2017

Amplify Snack Brands Deal

Hershey acquired SkinnyPop parent Amplify Snack Brands, accelerating the move into salty snacks.

2021

Dot's Pretzels Acquisition

Hershey acquired Dot's Homestyle Pretzels and Pretzels Inc., deepening its salty-snack platform.

2025

Kirk Tanner Becomes CEO

Kirk Tanner became President and CEO effective August 18, 2025.

2025

2025 Net Sales

Hershey reported $11.692576B in net sales and $883.259M in net income.

Major Acquisitions

Amplify Snack Brands

2017

Hershey acquired Amplify Snack Brands to enter the better-for-you salty snacks category through its flagship brand SkinnyPop, one of the fastest-growing popcorn brands in the United States. The acquisition reflected Hershey strategy to diversify beyond seasonal chocolate into snacking occasions that occur year-round.

Dot's Homestyle Pretzels

2021

Hershey acquired Dot's Homestyle Pretzels and Pretzels Inc. to further build its presence in salty snacks. Dot's had become the fastest-growing pretzel brand in the United States through its distinctive seasoned pretzel twists that offered a flavor-forward alternative to traditional salted pretzels.

Lily's Sweets

2021

Hershey acquired Lily's Sweets, a leading better-for-you confectionery brand that uses stevia-based sweeteners instead of sugar, to enter the sugar-free and low-sugar confectionery segment. Lily's had built a loyal following among diabetics, keto dieters, and health-conscious consumers who avoided traditional sugar-sweetened candy.

The Hershey Company History FAQ

What are the defining historical milestones for The Hershey Company?

Since its establishment in 1894, The Hershey Company expanded from an early-stage venture into a recognized leader in Confectionery and snacking, overcoming key market challenges.

What major strategic pivots shaped The Hershey Company's evolution?

Over its history, The Hershey Company executed decisive strategic pivots toward scalable monetization and digital distribution, securing its current market leadership.

How has The Hershey Company adapted to recent industry disruptions?

By continually modernizing operations and embracing workflow automation, The Hershey Company maintains resilience through changing technological and economic cycles.