Dive Brief:
- Hershey is combining its sweet, salty and protein brands under one umbrella. The Reese’s maker said the integration is designed to “unlock deeper consumer connections, strengthen customer partnerships and accelerate Hershey’s leadership to deliver the next generation of snacking.”
- The company also announced a series of leadership changes, including Andrew Archambault, who previously ran Hershey’s confections business. He will now oversee the full U.S. portfolio as part of the restructuring.
- While Hershey is best known for its sweets portfolio, it has been aggressively building up its salty business through acquisitions, including SkinnyPop popcorn, Pirate’s Booty cheese puffs, Dot’s Homestyle Pretzels and organic snacks brand LesserEvil.
Dive Insight:
The shift at Hershey comes as Kirk Tanner, a former PepsiCo executive, settles into the top role at Hershey after taking over in August.
The food maker said the restructuring, called One Hershey, will create a more simplified business and allow each of the segments to tap into the strengths of the other. This could be especially valuable as Hershey continues to deal with higher cocoa costs and slumping consumer spending.
“By activating our full portfolio as ONE Hershey, we’re better positioned to meet consumers wherever they are, create more moments of goodness and lead next generation snacking with speed and purpose,” Tanner said.
The consolidation marks the first time Hershey has unified its brand power, category strategies and consumer insights under a single integrated structure. In a statement, Hershey said it will be able to scale the commercial capabilities of its confections business with the speed and agility of its salty and protein portfolios.
The company also announced other leadership changes in addition to Archambault’s promotion. Vero Villasenor, who previously oversaw salty snacks, will become Hershey’s chief brand officer. This is a new role where she will lead the activation of Hershey’s portfolio around the globe. Stacy Taffet, the company’s chief growth officer, will now also oversee marketing.
