Hershey to keep up 20% growth

Having lost the battle for Cadbury's to Kraft Foods, Hershey took a deep breath and faced up to the future, alone. However, in Brazil, it boasts the joint venture it sealed with Pandurata, the owner of Bauducco, two years ago. In 2009, net turnover locally for Hershey rose 21%, notes its president in Brazil, Aluisio Periquito Neto. The aim in 2010 is to keep up such levels of growth via investment of R$3.5mil in the expansion of a plant in Sao Roque (SP). At present, Hershey is a chocolate-bar manufacturer in Brazil but wants to enter new chocolate-sector segments, explains Periquito Neto. An upcoming launch constitutes the first product developed by the firm in Brazil, Pacoca Hershey's, a Brazilianised version of Reese's Peanut Butter. Another will debut globally in Brazil, namely Hershey's Air.

Publication: SABI - Business News
Provider: South American Business Information
February 28, 2010