HERSHEY, PA -- Hershey announced a 9.7% wholesale price increase on most of its candy products, effective immediately.
The maker of Reese's, Kit Kat and Twizzlers said the price hike for the company's instant consumable, multi-pack, packaged candy and grocery lines will help offset rising raw material, fuel and transportation costs.
The company affirmed its financial outlook for 2011 of earnings a share in the range of $2.54 to $2.63 per share. Hershey said it expects the majority of the financial benefit from the price increase to impact earnings in 2012.
