The Hershey Company Agrees to Purchase Common Stock From Hershey Trust Company
November 07 2018 - 6:08PM
The Hershey Company (NYSE: HSY) announced today that it has agreed
to purchase 450,000 shares of its common stock from Hershey Trust
Company, as Trustee for the Milton Hershey School Trust, for
approximately $48 million, or $106.30 per share.
"Hershey regularly buys back shares as part of its
stock replenishment program,” said Michele Buck, President and
Chief Executive Officer, The Hershey Company. “Today’s transaction
is consistent with that practice. The company continues to have
flexibility to invest in our brands and in the capabilities that
give us a competitive edge at retail and with consumers."
About The Hershey
CompanyThe Hershey Company, headquartered
in Hershey, Pa., is an industry-leading snacks company known
for bringing goodness to the world through its iconic brands,
remarkable people and enduring commitment to help children succeed.
Hershey has approximately 17,000 employees around the world who
work every day to deliver delicious, quality products. The company
has more than 80 brands around the world that drive more
than $7.5 billion in annual revenues, including such
iconic brand names as Hershey’s, Reese’s, Kit Kat, Jolly Rancher,
Ice Breakers and SkinnyPop.
For more than 120 years, Hershey has been committed
to operating fairly, ethically and sustainably. Hershey
founder, Milton Hershey, created the Milton Hershey
School in 1909 and since then the company has focused on
helping children succeed. To learn more
visit www.thehersheycompany.com
FINANCIAL CONTACT: |
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MEDIA CONTACT: |
Melissa Poole |
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Leigh Horner |
717-534-7556 |
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717-412-8445 |
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