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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 30, 1996
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HERSHEY FOODS CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware I-183 23-0691590
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
100 Crystal A Drive, Hershey, Pennsylvania 17033
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (717) 534-6799
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Page 1 of 3 Pages
Exhibit Index - Page 3
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INFORMATION TO BE INCLUDED IN REPORT
Item 5. Other Events
On December 30, 1996, Hershey Foods Corporation ("Hershey") completed the
acquisition of the Leaf North America confectionery operations of Huhtamaki Oy
("Huhtamaki"). On that date, Hershey also completed the sale of its European
operations, Gubor Holding GmbH ("Gubor") and Sperlari Srl ("Sperlari"), to
Huhtamaki. The consideration paid by Hershey to Huhtamaki, after taking into
account Huhtamaki's purchase of Gubor and Sperlari, was approximately US $330
million.
In addition, Hershey and Huhtamaki entered into a trademark license
arrangement on December 30, 1996. Pursuant to the terms of this licensing
arrangement Hershey will have the right to manufacture, market and distribute
products under the licensed trademarks in North, Central and South America. The
trademarks licensed to Hershey under the licensing arrangement include JOLLY
RANCHER, WHOPPERS, GOOD & PLENTY, PAYDAY, HEATH, MILK DUDS, XYLIFRESH, SUPER
BUBBLE and RAINBLO.
Hershey Foods announced the completion of the above transactions in a
press release dated December 30, 1996, incorporated herein by reference and a
copy of which is filed herewith as Exhibit 99.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: January 10, 1997
HERSHEY FOODS CORPORATION
By /s/ Robert M. Reese
Robert M. Reese
Vice President,
General Counsel and Secretary
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Exhibit Index - Page 3
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Exhibit Index
Exhibit No. Description
99 Press Release dated December 30, 1996
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Exhibit 99
FOR IMMEDIATE RELEASE CONTACT:
December 30, 1996 Hershey Foods
John Long
(717) 534-7641
Leaf Group
Mr. Keijo Suila,
President
31-20-656-2100
Hershey Foods Completes Acquisition of
Leaf's North American Operations
HERSHEY, Pa.--Hershey Foods Corporation and Huhtamaki Oy, of Helsinki, Finland,
announced today that Hershey's purchase of Huhtamaki's Leaf North America
confectionery operations has been completed. Hershey's European confectionery
interests, the German praline manufacturer Gubor Schokoladen and the Italian
sugar confectionery company Sperlari Srl, have been purchased by Huhtamaki as
part of the transaction.
As disclosed earlier, the consideration paid by Hershey to Huhtamaki for the
Leaf business, after taking into account Huhtamaki's purchase of Gubor and
Sperlari was approximately US $330 million.
The parties also have entered into a licensing arrangement under which Hershey
will manufacture, market and distribute Leaf's North American confectionery
brands including Jolly Rancher, Whoppers, Good & Plenty, PayDay, Heath and Milk
Duds, and Xylifresh gum. Additional gum brands included in the acquisition are
Super Bubble and Rainblo.
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Leaf's North american confectionery sales in 1995 were US $460 million (which is
net of certain promotional expenses). Leaf North American plant locations
involved in this transaction comprise facilities in Wheatridge, Colo.; Robinson,
Ill.; St. Louis, Mo.; Akron, N.Y.; Memphis, Tenn.; and Scarborough, Ontario,
Canada. A 50 percent interest in the Mexican corporation, Dulsa S. de R.L. de
C.V., in Toluca, Mexico, also is included in the transaction.
Gubor and Sperlari had combined net sales in 1995 of US $210 million. Gubor has
two plants, located in Mullheim and Munstertal in southern Germany; Sperlari's
two plants are located in Cremona and Gordona in northern Italy.
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