Hershey Mexico will buy Mexican confectioner Grupo Lorena, whose Pelon Pelo Rico brand leads the spicy candy market.
The Hershey Foods Corp. division expects Grupo Lorena’s popular kids brands to complement Hershey’s own adult brands, and its retail prowess to expand Hershey’s distribution network in Mexico and the U.S.
The deal is expected to close during fourth quarter 2004. Terms were not disclosed. Grupo Lorena reported 2003 sales of $30 million.
In April, PA-based Hershey signed a multi-year deal to sponsor Mexican-born singer Thalia Sodi. Hershey sponsors her 2004 U.S. tour and collaborates on Spanish-language ads, promos and a co-branded Thalia line of Hershey products debuting this fall, targeted to Mexicans and Hispanic-Americans.
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