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HERSHEY, Pa. - Hershey Foods Corp. said it will augment its growing candy portfolio with a chunk of the cookie business. The company is eyeing convenience stores and drug stores as the most lucrative retail channels for its new venture, according to published reports.
Hershey has been adding products such as nutrition bars and low-carb candies to address growing health concerns in the United States. Company executives noted in a conference call last week that premium items, such as the cookies Hershey will sell, are growing and profitable, despite the impact of low-carb diet trends on other categories. They estimated that the premium end of the cookie market represents about 20 percent of the total market.
Hershey's cookies will retail at 99 cents for a single bag of four and will be based on the Hershey's, Reese's, York, and Almond Joy brands, chairman and c.e.o. Richard Lenny said in a conference call. Lenny was previously an executive with cookie and cracker maker Nabisco.