Why Her­shey Is Los­ing Its Sweet Tooth

Food ▶ Chas­ing evolv­ing tastes, it’s em­brac­ing beef jerky ▶ “If it says pro­tein on it, con­sumers will buy it”

Bloomberg Businessweek (North America) - - Companies/ Industries -

Her­shey, Pa., smells like choco­late. Its street lamps are shaped like Her­shey’s Kisses, and its roads bear names like Co­coa Av­enue. So it’s sur­pris­ing that Her­shey, the town’s name­sake candy gi­ant, whose an­nual rev­enue swelled to more than $7 bil­lion sell­ing choco­late with peanut but­ter, choco­late with al­monds, and just plain choco­late, is stak­ing so much of its fu­ture on a rad­i­cally dif­fer­ent snack: beef jerky.

With sugar widely branded a health hazard and Amer­i­cans cut­ting back on sweets in fa­vor of Greek yogurt cups and pro­tein bars, Her­shey saw sales fall in 2015 for the first time in more than a decade. To halt the slide, the com­pany is bet­ting on a grow­ing ap­petite for

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