Exhibit 99
[LOGO OF HERSHEY FOODS APPEARS HERE] HERSHEY FOODS NEWS
Hershey Foods Corporation
100 Crystal A Drive
Hershey, PA 17033
E-Mail: [email protected]
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http://www.hersheys.com
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FOR IMMEDIATE RELEASE CONTACT:
John C. Long
717-534-7631
FINANCIAL CONTACT:
James A. Edris
717-534-7556
Hershey Foods Completes Acquisition of Nabisco's Intense and
Breath Freshener Mints and Gum Businesses
HERSHEY, Pa. -- Hershey Foods Corporation (NYSE: HSY) announced today that it
has completed the purchase of Nabisco's intense and breath freshener mints and
gum businesses.
As previously disclosed, Hershey paid $135 million to acquire the businesses,
including Ice Breakers and Breath Savers Cool Blasts intense mints, Breath
Savers mints, and Ice Breakers, Care*free, Stick*free, Bubble Yum and Fruit
Stripe gums. Also included in the purchase is Nabisco's gum-manufacturing plant
in Las Piedras, Puerto Rico. The businesses had 1999 sales of approximately $270
million.
Hershey Foods Corporation is the leading North American manufacturer of quality
chocolate and non-chocolate confectionery and chocolate-related grocery products
and has a variety of international operations.
SAFE HARBOR STATEMENT
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This release contains statements which are forward-looking. These statements are
made based upon current expectations which are subject to risk and uncertainty.
Actual results might differ materially from those contained in the
forward-looking statements. Factors which could cause results to differ
materially include, but are not limited to: changes in the confectionery and
grocery business environment, including actions of competitors and changes in
consumer preferences; changes in governmental laws and regulations, including
taxes; market demand for new and existing products; the Corporation's ability to
implement improvements to and reduce costs associated with the Corporation's
customer service, warehousing and order fulfillment processes and systems; and
changes in raw material costs, as discussed in the Corporation's Annual Report
on Form 10-K for 1999.
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