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Neal Freiman

šŸ‘¤ Speaker
27131 total appearances

Appearances Over Time

Podcast Appearances

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

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, and peanut butter, that built Reese's trust in the first place?

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

He said he recently threw out a Reese's Mini Hearts product released around Valentine's Day, calling it not edible.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

In response to Reese, Hershey's said that it had not changed the recipe for the OG Peanut Butter Cup, but had expanded that brand into new categories to match changing consumer tastes.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

As we've grown and expanded the Reese's product line, the company wrote,

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

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.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

That is not likely to quiet the critics, many of whom rallied around Reese with their own grievances of Hershey's chocolate not quite tasting like it used to.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

Toby, do they have a point?

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

It is a fact, if you go to these candies and you look at the ingredient list, that Rolo's, Mr. Goodbar, and Almond Joy no longer list milk chocolate like they used to, and Hershey's no doubt has been changing their ingredients.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

And I think a lot of people hopped on this post and said, yeah, sure, you can take the whole psychology into account, saying that—

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

these chocolate does taste better when you're younger.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

But they actually literally have changed the recipe, not necessarily for Reese's Peanut Butter Cups, but for other bars.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

So a lot of folks were saying, yeah, Mr. Reese, you are right.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

And he is, just to do some family lore, he is the grandson of H.B.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

Reese.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

HB Reese worked for Hershey in 1917 before founding his own company where he created the Reese's peanut butter cups.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

Then his kids in 1963 sold that back to Hershey.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

So this guy went from Hershey, did his own thing.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

They sold it back.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

But yes, this guy named HB Reese invented the Reese's butter cup.

Morning Brew Daily
Tariffs Ineffective Against US Trade Deficit? & Family Feud Over Reese’s Recipe

Okay, welcome to Stock of the Week, Dog of the Week, the segment where Toby and I pick one stock that rocked and another that rolled.