Hershey Foods Corporation (NYSE: HSY) announced on Friday (15 December) that it has completed the purchase of Nabisco’s intense and breath freshener mints and gum businesses.
As previously disclosed, Hershey paid $135 million to acquire the businesses, including Ice Breakers and Breath Savers Cool Blasts intense mints, Breath Savers mints, and Ice Breakers, Care*free, Stick*free, Bubble Yum and Fruit Stripe gums. Also included in the purchase is Nabisco’s gum-manufacturing plant in Las Piedras, Puerto Rico. The businesses had 1999 sales of approximately $270 million.
Hershey Foods Corporation is the leading North American manufacturer of quality chocolate and non-chocolate confectionery and chocolate-related grocery products and has a variety of international operations.
SAFE HARBOR STATEMENT
This release contains statements which are forward-looking. These statements are made based upon current expectations which are subject to risk and uncertainty. Actual results might differ materially from those contained in the forward-looking statements. Factors which could cause results to differ materially include, but are not limited to: changes in the confectionery and grocery business environment, including actions of competitors and changes in consumer preferences; changes in governmental laws and regulations, including taxes; market demand for new and existing products; the Corporation’s ability to implement improvements to and reduce costs associated with the Corporation’s customer service, warehousing and order fulfillment processes and systems; and changes in raw material costs, as discussed in the Corporation’s Annual Report on Form 10-K for 1999.