Post subject: little local chocolate get's aquired
Posted: Mon Jul 25, 2005 11:12 pm
Yeah Yeah Yeah
Joined: Mon Oct 18, 2004 4:50 pm Posts: 3955 Location: Leaving Here
Hershey to buy Scharffen Berger
LOS ANGELES (Reuters) - Hershey Co. (NYSE:HSY - news) said on Monday it will buy Scharffen Berger Chocolate Maker Inc. in a move that will boost the candymaker's presence in the fast-growing premium chocolate market.
Terms of the deal where not disclosed.
Berkeley, California-based Scharffen Berger is known for its high-cacao content chocolate bars and baking products. The decade-old company also operates three specialty stores in Berkeley, New York and San Francisco.
The deal represents a "strategic opportunity" for Hershey to capitalize on growing U.S. consumer demand for high-end chocolate, Chief Executive Richard Lenny said in a statement.
Hershey, the maker of Hershey Kisses and Reese's Peanut Butter Cups, expects to leverage its wide distribution network to increase Scharffen Berger's presence in the U.S. market, Lenny added.
The deal is expected to close in the third quarter, Hershey said in a statement.
Joined: Sun Oct 17, 2004 7:19 pm Posts: 39068 Location: Chapel Hill, NC, USA Gender: Male
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