Word: krafts
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Dates: during 2000-2009
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...Unlike most companies, particularly foodmaker Kraft, which is also considering a bid for Cadbury, Hershey is controlled not by investors but by a charitable trust, established a century ago by company founder Milton Hershey to fund the education of orphans. The Hershey Trust, which holds 80% of the voting stock of the candy company, runs the Milton Hershey School not far from the corporate headquarters in central Pennsylvania, and it is required to maintain it in perpetuity. (See which businesses are bucking the recession...
...long-term consequences of such a merger will weigh heavily on the trust-board members since they must consider how it will affect their bottom line far into the future. Outbidding Kraft for Cadbury would force the company to take on a mountain of debt, analysts say, which could damage Hershey's strong credit rating. And raising that money could force the company to issue new stock, potentially diluting the control the trust enjoys...
...takeover target's chocolates performed less impressively under the lamp, though. The standard Cadbury chocolate bar lost a mark for converting to liquid while Kraft's Toblerone picked up one for being able to withstand conditions similar to those inside the Hadron Collider. The triangle-shaped bar soon lost that point again, though, for stabbing the roof of my mouth when I ate it. (See pictures of the Hadron Collider...
...results were definitive. Illinois-based Kraft's Swiss Milka brand triumphed in the big bar - chocolate makers call them "tablets" - category, owing mainly, to go by the comments of the six tasters, to its being neither British nor American. Or as Louise Thomas of The Chocolate Consultant in London put it, when I called her for an independent professional view: "The Swiss like their [chocolate] milky and creamy...
...Still, that didn't stop Hershey's Reese's Pieces stealing the category for confectionary in the round. In the fourth and final group - filled chocolates - Fry's Peppermint Cream, part of the Cadbury family, comfortably beat all-comers. (Read: "Despite Two Rebuffs, Kraft Is Still Sweet on Cadbury...