Hershey Foods Corp. wants to change its name to The Hershey Co., and double its shares to help finance future, unspecified enterprises as part of a larger corporate makeover.
The company, which makes such brands as Reese's, Almond Joy, Mounds and KitKat, said in regulatory filing it also was considering revising the Hershey logo. It said the moves would require shareholder approval.
While Hershey would not specify what it plans to do with the extra money it hopes to generate by doubling its current authorization of 525 million shares, industry analysts have raised the possibility that it will acquire a competitor candy business.
The new moniker is "on trend with today's marketplace, is easily identifiable and will provide flexibility should the company choose to expand into other market segments," Hershey Foods said in a filing with the Securities and Exchange Commission.