The Hershey Company Purchases Stock From Hershey Trust Company

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Feb 16, 2022, 16:33 ET

HERSHEY, Pa., Feb. 16, 2022 /PRNewswire/ -- The Hershey Company (NYSE: HSY) announced today that it has completed a purchase of one million shares of its common stock from Hershey Trust Company, as Trustee for the Milton Hershey School Trust, for approximately $203 million, or $203.35 per share.

"Share buybacks are an important part of our capital allocation strategy as well as our stock replenishment program," said Steve Voskuil, Chief Financial Officer, The Hershey Company. "This transaction is consistent with those practices. The company's strong balance sheet enables continued flexibility to invest in our business to help drive future growth."

About The Hershey Company
The Hershey Company is headquartered in Hershey, Pa., and is an industry-leading snacks company known for bringing goodness to the world through its iconic brands, remarkable people, and enduring commitment to help children succeed. Hershey has approximately 17,000 employees around the world who work every day to deliver delicious, quality products. The company has more than 90 brands around the world that drive more than $8.1 billion in annual revenues, including such iconic brand names as Hershey's, Reese's, Kit Kat®, Jolly Rancher, Ice Breakers, SkinnyPop, and Pirate's Booty. For more than 125 years, Hershey has been committed to operating fairly, ethically, and sustainably. Hershey founder, Milton Hershey, created the Milton Hershey School in 1909 and since then the company has focused on helping children succeed.

SOURCE The Hershey Company