Latest news with #WillBonifant
Miami Herald
25-04-2025
- Business
- Miami Herald
Hershey makes bold move impacting many workers
Whether an adult or a child, everyone has a favorite candy bar that has stuck with them throughout life. Some remain loyal to the same candy bar they begged their parents to buy for them as children, and passed this tradition on to their kids years later. Others might have discovered a new favorite as they have gotten older. Don't miss the move: Subscribe to TheStreet's free daily newsletter Nevertheless, candy will constantly remind us of the younger version of ourselves that still lives within us. Related: Hershey combines two beloved products to make dream snack This nostalgic feeling and loyalty from millions of sweets-loving fans have helped The Hershey Company become the king of candy creations since its inception in 1894, and one of the largest chocolate manufacturers in the world. Hershey produces some of the most iconic candy brands worldwide, including Reese's, KitKat, Kisses, Twizzlers, Jolly Ranchers, and of course, its namesake chocolate bar. Image source: Getty Images In 2022, Hershey (HSY) unveiled a multi-year plan to invest $1 billion in its production and efficiency, adding 13 production lines and revamping 11 existing ones across multiple Hershey facilities in North America. Related: Hershey creates new candy that's a dream combo This massive investment aims to boost its supply chain capacity, enabling it to produce more chocolate, keep up with consumer demand, and develop even more innovations. "Our ability to make and deliver products both quickly and efficiently is a key component of our growth strategy," said Hershey Vice President of Supply Chain Strategy and Manufacturing Will Bonifant in a statement. "We've made significant investments to speed production, increase capacity, and develop our workforce for the future to make more of the iconic brands consumers love," he added. After nearly three years in the making, Hershey has finally opened its new 250,000-square-foot chocolate processing plant in Hershey, Pennsylvania. This new development marks many firsts since it is the company's first fully integrated digital manufacturing plant and the first new-built facility in the area in over 30 years. The new manufacturing plant will help the company adapt to evolving consumer trends and rising demand by increasing its ability to boost production of Hershey's most beloved chocolate brands, including Reese's and KitKat. More Retail News: Burger King menu adds whopper of a Whopper offerHard seltzer brand tries to recapture magic with new product linePopular retail chain to close stores and cut hundreds of jobs The processing facility is located between an existing Reese's site and the company's technical center. It has over 100 full-time employees and will potentially create many more jobs as operations expand, which is excellent news for job seekers and the overall economy. "We plan to hire about 125 people by the time the facility opens next summer, and in time we'll double that number of hires as we increase production," said Hershey Lead Director of Project Milton Ryan Britt when the project was unveiled. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
25-04-2025
- Business
- Yahoo
Hershey opens new chocolate plant as part of $1B supply chain upgrade
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Hershey last week opened a 250,000-square-foot chocolate processing facility in Hershey, Pennsylvania, the company's first new manufacturing plant in the city in more than 30 years. The Reese Chocolate Processing facility, named after brand founder H.B Reese, took nearly three years to complete. It will provide chocolate for brands such as Reese's, Kit Kat and Hershey's. The confection and salty snacks maker said the project is part of a multi-year, $1 billion investment that also includes the addition of 13 production lines and the upgrading of 11 existing lines across Hershey's North American facilities. As companies look to boost production and improve the efficiency of their existing supply chain, more are adding, expanding or even closing older facilities across their networks. The new Hershey's plant is located on a 55-acre site that is part of the company's existing Reese's campus. The site has nearly 100 full-time employees and will add more positions as operations expand. 'Our ability to make and deliver products both quickly and efficiently is a key component of our growth strategy,' Will Bonifant, vice president of supply chain strategy and manufacturing at Hershey, said in a statement. 'We've made significant investments to speed production, increase capacity and develop our workforce for the future to make more of the iconic brands consumers love.' Hershey has recently stepped-up efforts to boost innovation across its portfolio that includes everything from Kisses and Reese's to gummies and Dot's pretzels. While Hershey has used M&A to expand its portfolio, a major part of its ability to innovate comes from efforts it has taken to grow production capacity. In 2023, for example, Hershey purchased two popcorn operations from a co-manufacturer to increase production capacity and flexibility for its SkinnyPop brand. And when it purchased Dot's in 2021, a key part of that $1.2 billion deal was buying manufacturing locations to increase output as demand increased. Recommended Reading Hershey to buy healthier snacks maker LesserEvil
