Question: Does Hershey own Cadbury?
Answer:
Hershey does not own Cadbury Schweppes. However, Hershey has license agreements with affiliated companies of Cadbury Schweppes p.l.c. to manufacture and/or market and distribute York, Peter Paul Almond Joy and Peter Paul Mounds confectionery products worldwide as well as Cadbury and Caramello confectionery products in the United States. The Corporation's rights under these agreements are extendible on a long-term basis at the Corporation's option. The license for Cadbury and Caramello products is subject to a minimum sales requirement which the Corporation exceeded in 2000.
The Corporation also has an agreement with Societe des Produits Nestle SA, which licenses the Corporation to manufacture and distribute Kit Kat and Rolo confectionery products in the United States. The Corporation's rights under this agreement are extendible on a long-term basis at the Corporation's option, subject to certain conditions, including minimum unit volume sales. In 2000, the minimum volume requirements were exceeded.