Hershey takes on fast-growing Nutella

Print
Email
|

Associated Press

Posted on January 15, 2014 at 11:02 AM

Updated Wednesday, Jan 15 at 11:02 AM

NEW YORK (AP) — Americans apparently like smearing their foods with chocolatey spreads.

The Hershey Co. on Wednesday said it was introducing a line of chocolate spreads, including a hazelnut variety reminiscent of Nutella, a spread made by the Italian company Ferrero that has taken off rapidly in the U.S.

The move points to the strong growth in the category. Over the past five years, sales of Nutella in the U.S. have more than tripled to $240.4 million, according to market researcher Euromonitor International.

In 2012, J.M. Smucker Co. also got into the game with its Jif hazelnut spreads.

Anna Lingeris, a Hershey spokeswoman, says the spreads are often paired with fruit. But she says Hershey will play up the possibilities for its spreads in national TV ads set to start airing on Monday.

Print
Email
|