The Hershey Company has been a household name in candy since 1894 and remains one of the world’s largest manufacturers of snacks and confectionery, with more than 90 iconic brands, including Reese’s, Kisses, Hershey’s, and Kit Kat.

Now, the company is facing public criticism after a member of the Reese family publicly questioned Hershey’s core product and reputation.

Hershey Company accused of deceiving customers

Brad Reese, grandson of H.B. Reese, the creator of Reese’s Peanut Butter Cups in 1928, published an open letter on LinkedIn on February 14, 2026, addressed to Todd Scott, corporate brand & editorial manager at The Hershey Company.

Although the Reese family has not owned the brand since Hershey acquired the H.B. Reese Candy Company in 1963, Reese has long made it his mission to protect Reese’s brand integrity, as stated on his LinkedIn profile.

In the post, he questions whether Hershey has altered the ingredients in some Reese’s products.

“How does The Hershey Company continue to position Reese’s as its flagship brand, a symbol of trust, quality and leadership, while quietly replacing the very ingredients (Milk Chocolate + Peanut Butter) that built Reese’s trust in the first place?”

Reese calls for greater transparency, alleging that certain products now rely on lower-cost alternative ingredients.

“I’m not asking for nostalgia. I’m asking for alignment. For truth in Reese’s brand stewardship,” said Reese. “The story cannot be stronger than the ingredients.”

The post generated significant engagement, with some consumers commenting that they believe product taste, size, or texture have changed over time. However, these claims reflect only individual consumer perceptions and have not been verified.

One user on LinkedIn commented, “I’ve quietly stopped buying Reese’s and Hershey’s. Aside from the chocolate not tasting or feeling like chocolate, everything has gotten thinner and smaller while increasing dramatically in price.”

“I’m deeply disappointed to learn that Hershey has discreetly substituted milk chocolate and peanut butter with inferior chemicals. Sadly, I will now steer clear of my favorite treat until Hershey reverses course and apologizes,” added another LinkedIn user.

The Hershey Company faces criticism from a member of the Reese’s family.

Rising cocoa costs and supply challenges

Shutterstock The scrutiny comes as the global chocolate industry navigates elevated input costs and supply volatility.

Food prices increased 2.9% over the last 12 months ending January 2026, according to recent U.S. Bureau of Labor Statistics data.

Cocoa was among the most affected products. Extreme rainfall, crop disease, and higher temperatures in major West African producing regions have disrupted production and reduced global supply.

At the same time, inflation, higher operating costs, tariffs, and shifting consumer preferences have made it harder for businesses to remain profitable. 

Like many competitors, Hershey has focused on product innovation and portfolio diversification by introducing ingredients such as peanut butter, caramel, and wafers to reduce the amount of cocoa used per unit while also aligning with consumer demand.

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More Retail Business News: “Our Procurement Team did a remarkable job navigating volatile cocoa markets in 2025, using agile hedging and sourcing strategies to significantly reduce the impact of cocoa inflation,” said The Hershey Company CEO Kirk Tanner in an earnings call.

“These programs enable us to expand capability-building investments in talent and technology and deliver differentiated performance into the future.”

Hershey’s strategy delivers strong results

Despite public criticism, Hershey’s recent financial performance suggests its strategy is working.

In full Fiscal Year 2025, Hershey’s net sales increased 4.4%, with North American Confectionery rising 4%.

The company also generated more than $300 million in net savings over the past two years and is projected to deliver an incremental $100 million in 2026.

As of February 19, 2026, Hershey (HSY) shares are up nearly 21%.

“I’m proud of how our teams have navigated a challenging environment, demonstrating operational excellence, impactful innovation, and skillful execution that is driving real results,” said Tanner in the earnings report.

“We are building the capabilities and brand investments that position us for continued success, with a focus on strengthening our foundation, improving profitability, and advancing the next phase of our strategy to deliver long-term growth and value creation for our shareholders.”

Now that cocoa prices are stabilizing, analysts expect an improved EPS outlook in 2026 and 2027, according to StocksToTrade.

“We expect recent pricing announcements to drive outsized earnings growth in FY26 with a solid consumer backdrop supporting better-than-expected elasticities, noting Hershey’s historically strong pricing power tied to its iconic brand portfolio,” Goldman Sachs Stock Analyst Leah Jordan wrote in a September note.

Hershey responds to ingredient allegations

Hershey has disputed claims that the recipe for its core product has changed.

“Our iconic Reese’s Peanut Butter Cups are made the same way they always have been; starting with roasting fresh peanuts to make our unique, one-of-a-kind peanut butter that is then combined with milk chocolate,” Hershey told FOX Business in an email. 

The company acknowledges that recipe adjustments may occur in certain products to support new formats, seasonal items, or innovations, but said these changes are designed to preserve the brand’s signature taste and quality.

“We make product recipe adjustments that allow us to make new shapes, sizes and innovations that Reese’s fans have come to love and ask for, while always protecting the essence of what makes Reese’s unique and special: the perfect combination of chocolate and peanut butter,” Hershey added in the emailed statement.

Reese has pointed out that ingredients in some products now list peanut‑butter‑style crème, chocolate‑flavored coatings, vegetable oil blends, and hydrogenated oils. However, Hershey produces dozens of Reese’s varieties, and formulations may differ by product type, manufacturing requirements, and regional regulations.

Chocolate labeling standards also vary internationally. Some countries require higher cocoa content for products to be classified as “milk chocolate,” leading to formulation differences between U.S. and European versions.

Many standard U.S. products continue to list milk chocolate and peanuts as primary ingredients, though additional stabilizers or oils may also appear, depending on the product format.

Why ingredient accusations matter for Hershey

The Hershey situation with Reese’s products reflects broader challenges for legacy food brands trying to balance rising commodity costs, product innovation, and global supply pressures while maintaining consumer trust and brand heritage.

There is no evidence of regulatory action or formal investigation regarding the allegations against Hershey as of the date of publication.

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