The Hershey Company
Explore The Hershey
Core profile pages, annual revenue records, and related research hubs for this company.
The Hershey Company
Explore The Hershey
Core profile pages, annual revenue records, and related research hubs for this company.
Company History
Founded 1894 in Hershey, Pennsylvania
Founded in 1894 by Milton S. Hershey in Lancaster, Pennsylvania, the company has built a multi-billion-dollar enterprise anchored by its unparalleled 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 successfully 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.
Milton S. Hershey, born in 1857 in Derry Township, Pennsylvania, was an American confectioner and philanthropist who founded The Hershey Company and the town of Hershey, Pennsylvania. After experiencing multiple business failures in Philadelphia and New York City, Hershey found success with the Lancaster Caramel Company, utilizing fresh milk to create creamy caramels. However, his true passion lay in chocolate, and after witnessing German cocoa processing machinery at the 1893 World’s Columbian Exposition, he purchased the equipment and began experimenting with milk chocolate formulations. In 1900, he sold the Lancaster Caramel Company for $1 million and focused entirely on chocolate, perfecting a process to integrate fresh milk into chocolate without spoilage. He built a massive, state-of-the-art factory in his hometown and established the model town of Hershey to provide his workers with a high quality of life. Hershey’s introduction of the Hershey’s Milk Chocolate Bar and the Hershey’s Kiss revolutionized the American confectionery market, making chocolate an affordable, everyday treat. He also founded the Milton Hershey School in 1909, providing free education and housing to disadvantaged children, and established the Hershey Trust Company to fund the school, which today controls the majority of the voting power in The Hershey Company. Hershey’s legacy is defined by his relentless innovation, his commitment to his workers, and his creation of a brand that remains a cultural icon over a century later.
Milton S. Hershey founded the Hershey Chocolate Company after building expertise in caramel manufacturing.
Hershey launched a mass-market milk chocolate bar and helped make chocolate an everyday American product.
Hershey acquired H.B. Reese Candy Company, adding what became one of the most powerful U.S. confectionery franchises.
Hershey acquired SkinnyPop parent Amplify Snack Brands, accelerating the move into salty snacks.
Hershey acquired Dot's Homestyle Pretzels and Pretzels Inc., deepening its salty-snack platform.
Kirk Tanner became President and CEO effective August 18, 2025.
Hershey reported $11.692576B in net sales and $883.259M in net income.
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.
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.
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.
Hershey was founded in 1894 by Milton S. Hershey in Lancaster, Pennsylvania.
Hershey is using pricing, innovation, retail execution, salty-snack expansion, productivity programs, and brand investment to defend confectionery margins while creating more non-chocolate growth options.
The history explains why Hershey's current moat, culture, and capital allocation look the way they do.
This profile includes major milestones, leadership changes, and strategy shifts for Hershey.