The Hershey Company (NYSE: HSY), the iconic Pennsylvania-based chocolate company, has announced plans to launch its first new brand in 30 years. According to a press release, the brand, to be named Lancaster, will include a line of caramel soft crèmes available nationwide beginning January 2014.
Hershey will be going back to their roots with the launch of the new brand. As the press release points out, Lancaster is inspired by the candy created by founder Milton Hershey more than 120 years ago in Lancaster, Pa., when he ran the Lancaster Caramel Company. Hershey sold the Lancaster Caramel Company to the American Caramel Company in 1900.
"The launch of Lancaster Soft Cremes takes Hershey back to the early days of our founder Milton Hershey and his truly innovative spirit and desire to make great tasting, high-quality products for consumers," said Steven Schiller, senior vice president of Sweets and Refreshment at The Hershey Company. "The Lancaster brand will delight all consumers looking for a rich and indulgent experience as they savor our new soft cremes that are rooted in our company's deep history."
Though the U.S. has yet to get a taste of Lancaster soft crèmes, the brand has already launched in three cities in China, marking the first time the chocolate company has rolled out a new line outside its home country. According to the press release, the launch “underscored the company's deep commitment to China, as well as the importance of the market in Hershey's global growth plans.”
Lancaster will be available in the U.S. in three flavors: caramel, vanilla and caramel and vanilla and raspberry. The (presumably) tasty new treat will be sold in 8 oz. bags for $3.99 and in 4 oz. bags for $2.49.
According to Bloomberg, Hershey rose 2.3 percent to $93.76 on Thursday.