Hershey Mexico, a subsidiary of Hershey Foods Corporation and one of the leading companies manufacturing and selling chocolate, confectionery and flavored milk products in Mexico, announced it has entered into an agreement to acquire Grupo Lorena, one of Mexico's top confectionery companies. Grupo Lorena, which had sales of more than $30 million in 2003, is a leader in the spicy candy market in Mexico with its Pelon Pelo Rico brand.
"Grupo Lorena's solid brands in key consumer segments will strengthen our leadership position in the Mexican market," said Juan-Carlos Zayas, director of Marketing, Hershey Mexico. "This portfolio will broaden our offerings for Mexican consumers, especially as its strength in the youth market complements our established success in the adult segment. Its Pelon Pelo Rico brand is a great entry to the popular spicy candy segment for Hershey Mexico. Equally important, Grupo Lorena's commitment to product quality and innovation is a perfect fit with Hershey's reputation for manufacturing products that meet consumer expectations for great taste and top quality."