Hershey School Eyes Chocolate Plant for Major Development
June 20, 2011 | Read Time: 1 minute
The Pennsylvania charity school founded by the candy magnate Milton S. Hershey is considering buying the world’s biggest chocolate factory for conversion into a residential and retail complex, according to The Philadelphia Inquirer.
The possible deal comes amid a state investigation of the Hershey School’s purchases of a neighboring golf course and a roadside attraction called Pumpkin World for a total of $25-million. Critics content those acquisitions diverted resources from the school’s mission of educating needy children.
The Hershey Trust, which operates the school, has negotiated to pay about $65-million for the 2.2-million-square-foot factory property, The Inquirer writes, citing a source with direct knowledge of the matter.
A spokeswoman for the trust said it is “carefully assessing” the potential deal but “would only move forward if it were determined that a transaction would support our core mission consistent with Mr. Hershey’s deed of trust.”
