Hershey Sells 2 International Businesses to Focus on US Snacking
Hershey has reportedly announced the sale of two of its international businesses as it continues to shift its efforts to U.S. snacking. The chocolate company has been focusing on expanding its snacks business.
It recently acquired Skinny Pop parent Amplify Brands for $1.6 billion. Those efforts came after previous attempts at expanding internationally stumbled. The company stated that it sold Shanghai Golden Monkey, the Chinese candy company that it purchased in 2014, as well Tyrrells, the U.K. chip business it acquired through its purchase of Amplify.
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. At present, in this space, the global market is being dom...