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Hershey sells two international businesses to focus on US snacking

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Old 08-03-2018, 03:33 PM
damponting44 damponting44 is offline
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Default Hershey sells two international businesses to focus on US snacking

Hershey on Thursday announced the sale of two of its international businesses as it continues to shift its efforts to U.S. snacking.

Hershey has been focusing on broadening its snacks business, including its recent acquisition of Skinny Pop parent Amplify Brands for $1.6 billion. Those efforts came after previous attempts at expanding internationally stumbled.

The chocolate company said it has sold Shanghai Golden Monkey, the Chinese candy company it bought in 2014, as well Tyrrells, the U.K. chip business it acquired through its purchase of Skinny Pop parent Amplify for $1.6 billion.

Shanghai Golden Monkey Food Joint Stock in China, meant to be a launching pad for Hershey in the region, faltered when the founder left early on and the chocolate market dipped.

Now, with the global confectionery market dominated by players like Nestle, Mars and Mondelez, it's tough to cobble together an international platform.
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