Hershey / PA. (thc) The Hershey Company announced it is transitioning from two reportable segments, «North America» and «International and Other», to the following three reportable segments:
- North America Confectionery: This segment is responsible for the chocolate and nonchocolate confectionery market position in the United States and Canada. This includes the business in chocolate and nonchocolate confectionery, gum and refreshment products, protein bars, spreads, snack bites and mixes, as well as pantry and food service lines. This segment also includes the retail operations, including Hershey’s Chocolate World stores in Hershey, Pennsylvania; New York, New York; Las Vegas, Nevada; Niagara Falls (Ontario) and Singapore, as well as operations associated with licensing the use of certain of the company’s trademarks and products to third parties around the world.
- North America Salty Snacks: This segment is responsible for the salty snacking products in the United States. This includes ready-to-eat popcorn, baked and trans-fat free snacks, pretzels and other snacks.
- International: International is a combination of all other operating segments that are not individually material, including those geographic regions where the Company operates outside of North America. The Company currently has operations and manufacture product in Mexico, Brazil, India and Malaysia, primarily for consumers in these regions, and also distribute and sell confectionery products in export markets of Asia, Latin America, Middle East, Europe, Africa and other regions.
Following the December 2021 acquisitions of Dot’s Pretzels LLC and Pretzels Inc., the new reportable segments better align Hershey’s strong brands and the markets it serves, are consistent with how the company manages its business, including resource allocation and performance assessment, and provide more transparency to Hershey’s investors.