Reese's

The Harry Burnett Reese Candy Co. was established in the basement of Reese's house in Hershey, Pennsylvania. Reese had originally worked at a Hershey dairy farm, and from the start he used Hershey Chocolate in his confections. Reese's Peanut Butter Cups were his most popular candy, and Reese eventually discontinued his other lines.

After his passing, his six sons merged the H.B. Reese Candy Company with the Hershey Chocolate Corporation in a tax-free stock-for-stock merger with the six Reese brothers receiving 666,316 Hershey common shares, valued in 1963 at $23.5 million. In 2016, after 53 years of stock splits, these original shares now represent sixteen million Hershey common shares valued in excess of $1.7 billion, paying $39.5 million in annual cash dividends. The H.B. Reese Candy Company is maintained as a subsidiary of Hershey because the Reese plant workforce is not unionized, unlike the main Hershey plant. As of September 20, 2012, Reese's is the best-selling candy brand in the United States with sales of $2.603 billion, and is the fourth-best-selling candy brand globally with sales of $2.679 billion—only $76 million (2.8%) of its sales is from outside the United States market. Additionally, the H.B. Reese Candy Company manufactures the Kit Kat in the United States, which had 2012 U.S. sales of $948 million.

Subject ID: 16769

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The Harry Burnett Reese Candy Co. was established in the basement of Reese's house in Hershey, Pennsylvania. Reese had originally worked at a Hershey dairy farm, and from the start he used Hershey Chocolate in his confections. Reese's Peanut Butter Cups were his most popular candy, and Reese eventually discontinued his other lines.

After his passing, his six sons merged the H.B. Reese Candy Company with the Hershey Chocolate Corporation in a tax-free stock-for-stock merger with the six Reese brothers receiving 666,316 Hershey common shares, valued in 1963 at $23.5 million. In 2016, after 53 years of stock splits, these original shares now represent sixteen million Hershey common shares valued in excess of $1.7 billion, paying $39.5 million in annual cash dividends. The H.B. Reese Candy Company is maintained as a subsidiary of Hershey because the Reese plant workforce is not unionized, unlike the main Hershey plant. As of September 20, 2012, Reese's is the best-selling candy brand in the United States with sales of $2.603 billion, and is the fourth-best-selling candy brand globally with sales of $2.679 billion—only $76 million (2.8%) of its sales is from outside the United States market. Additionally, the H.B. Reese Candy Company manufactures the Kit Kat in the United States, which had 2012 U.S. sales of $948 million.

Subject ID: 16769

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