High Levels of Banned PFAS Detected in Hershey’s (NYSE: HSY) Packaging. Independent Tests Reveal Widespread Presence of Cancer-Linked “Forever Chemicals” in its Biggest Brands
October 23, 2024 | Source: Grizzly Research
- The Hershey Company (“HSY”) is a multi-brand iconic U.S. confectionery maker with a $37 billion market cap. Its most famous brands include Hershey’s, Reese’s, Almond Joy, and Mounds, which rank among the top products in consumer trust and appreciation. In 2023, HSY generated 81% of net sales and 91% of income from its North American confectionery segment.
- PFAS, or “forever chemicals,” are carcinogenic, and a ban or phase-out for plastic food and candy packaging was introduced until 2024 in at least 13 U.S. states. Children are especially vulnerable to PFAS toxins. PFAS in higher concentration usually originates from anti-grease and anti-soak coatings that serve no direct function for consumers in plastic wrappers.
- In the U.S. alone, PFAS polluting companies have already paid a total of $11.5 billion in damages, with many cases still outstanding. PFAS expert attorney Bilott, who was instrumental in a $4 billion PFAS settlement case against DuPont, Cehmours and Corteva, estimates that PFAS-related damage claims are “potentially much larger in scope and scale” than the tobacco settlements of $200 billion.