Hershey raising wholesale prices
Posted by | Posted in Business News | Posted on 02-04-2011
HERSHEY, Pa., April 1 (UPI) — Retailers will soon be paying almost 10 percent more for Hershey’s Kisses and other products produced by the U.S. candy giant, company officials say.
The Hershey Co., based in Hershey, Pa., announced a 9.7 percent increase in the wholesale price of its candy, CNN reported Thursday.
“Our products and our category will continue to provide the value and quality that consumers expect, and this action will position Hershey to achieve the opportunities that lie ahead,” David J. West, president and chief executive officer, said in an announcement.
The company said the price increase will take effect immediately in the United States and Puerto Rico. It did not say when retail customers are likely to feel its impact.
Hershey also makes Kit Kat, Twizzlers, Reese’s and chocolate bars that sell under its own name as well as other products.
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