EXECUTIVE SUMMARY
The Hershey Company became LA28's first domestic food partner in May 2022, renewing and extending its existing relationship with Team USA that began in 2015. The deal covers the Paris 2024, Milano Cortina 2026, and LA28 Olympic and Paralympic Games, positioning Hershey's portfolio of iconic confectionery brands alongside the U.S. Olympic movement through 2028.
Hershey controls approximately 36% of the U.S. chocolate market and reported $11.2 billion in 2024 revenue. The LA28 partnership is particularly significant as a homecoming story: the Games return to American soil for the first time since 2002 (Winter) and 1996 (Summer), giving a quintessentially American brand maximum domestic exposure. The partnership includes Hershey's corporate brand alongside Reese's, Hershey's Kisses, Twizzlers, and other consumer brands, with NBCUniversal media integration through 2028.
1. OLYMPIC HISTORY & MARKETING PRESENCE
1.1 Partnership Timeline & Evolution
Hershey's Olympic involvement began in October 2015 with a five-year USOPC partnership. The company supported Team USA at Rio 2016, PyeongChang 2018, and Tokyo 2020 (held 2021). These activations focused on athlete celebration and fan engagement through confectionery-themed campaigns.
In May 2022, Hershey renewed the Team USA partnership and simultaneously joined as an Official Supporter of the LA28 Olympic and Paralympic Games, extending the relationship through 2028. This renewal elevated Hershey from a purely Team USA sponsor to a Games-level partner.
1.2 Signature Programs & Athlete Ambassadors
- "Celebrate With Hershey's": Recurring campaign across Games cycles emphasizing shared moments and American tradition
- NBCUniversal integration: Media platform access across Olympic broadcasts, extending visibility beyond venue activations
- Product-specific activations: Reese's, Hershey's Kisses, and Twizzlers each receive distinct Olympic-themed campaigns
Paris 2024 Athlete Ambassadors: - Alex Morgan (Soccer, USA - Olympic gold medalist) and Jessica Long (Para Swimming, USA - Paralympic gold medalist) headlined the campaign as "Legends" - Sophia Smith (Soccer, USA) and Haven Shepherd (Para Swimming, USA) featured as "Newcomers"
Milano Cortina 2026 Athlete Ambassadors: - Hershey's "The Real Gold" campaign features five U.S. Olympic and Paralympic athletes sharing stories of finding happiness beyond the podium - Jordan Stolz (Speedskating, USA) among the featured athletes - Campaign accompanied by limited-edition chocolate medals
2. LA28-SPECIFIC INITIATIVES
2.1 Announced Plans & Positioning
LA28 announced in late 2024 that "Hershey Sweetens LA28," confirming the company as a key domestic partner. As the first food partner of the LA28 Games, Hershey occupies an exclusive category position in confectionery.
Specific LA28 activations have not been detailed publicly as of February 2026, though the partnership is expected to feature venue-level presence, athlete programs, and extensive NBCUniversal broadcast integration. The company's deep roots in American culture and its "celebration" messaging align naturally with a home-soil Olympics. LA28 is the first Summer Games on U.S. soil since Atlanta 1996, amplifying Hershey's positioning as a quintessentially American brand.
LA28 Context: The Games will take place across 40+ competition venues throughout the LA metro area, with a dual-venue Opening Ceremony shared between the LA Memorial Coliseum and SoFi Stadium (announced May 2025), and a historic 50-state torch relay beginning in April 2028. Hershey's confectionery product distribution and in-venue concessions capability position it to activate across this dispersed venue footprint. The July-August 2028 Games window coincides with peak summer consumption periods, and the NBCUniversal broadcast platform (which delivered 30.6 million average viewers for Paris 2024) provides the company's most significant owned media opportunity to date.
2.2 Regulatory/Market Context
Hershey faces significant headwinds from rising cocoa commodity prices. The company projected 2025 earnings per share down in the high-40% range due to commodity costs, even as net sales grew. By 2028, cocoa price stabilization (or continued elevation) will materially affect activation budgets and the broader brand health brought to the partnership.
A CEO transition in August 2025, with Kirk Tanner replacing Michele Buck, introduces leadership change during the partnership run-up to LA28.
3. EXECUTIVE LEADERSHIP & DECISION-MAKERS
3.1 C-Suite Leadership
- Kirk Tanner - President & CEO (effective August 2025). Previously CEO of Wendy's and spent 30 years at PepsiCo, including as CEO of PepsiCo Beverages North America ($25B business). Experienced in large-scale brand activation.
- Andrew Archambault - President, U.S. Confection. Leads brand strategy, commercial execution, and P&L for core confectionery portfolio.
- Deepak Bhatia - SVP & CTO. Leads digital transformation and technology strategy.
- Natalie Rothman - CHRO (effective August 2025).
3.2 Olympic Partnership Leadership
Not publicly disclosed. USOPC relationship likely managed through the marketing and brand partnerships function within the U.S. Confection division.
3.3 Board Members with Relevant Experience
Not publicly disclosed with direct Olympic relevance.
4. AGENCY & CREATIVE PARTNERS
4.1 Agency Model
Hershey operates a hybrid model: significant in-house content production capability supplemented by external agency partnerships for media buying and specialized creative work.
4.2 Known Agency/Partner Relationships
- Publicis Groupe (MiltonOne) - U.S. media agency of record as of July 2024. Bespoke unit handling candy, mint, gum, salty snacks, and protein brands.
- Horizon Media - Previous U.S. media AOR (2021-2024)
- Whalar - Influencer marketing platform partner
- VIMBY / Upworthy - Production and distribution partners for social content
- Tenor - GIF platform creative partner
4.3 Notable Creative Executions
Hershey has invested in bringing content production in-house for speed and cost efficiency on social platforms, while reserving traditional agency support for polished broadcast creative. Olympic-specific creative executions have historically focused on celebratory moments and athlete stories tied to specific product brands.
5. COMPETITIVE POSITIONING
5.1 Market Share & Competitive Landscape
Hershey holds approximately 36% of the U.S. chocolate market, competing primarily with Mars (M&M's, Snickers, Milky Way) and Mondelez (Cadbury, Toblerone). In the broader confectionery category, the company's portfolio spans chocolate, candy, mints, gum, and salty snacks (SkinnyPop, Pirate's Booty).
Key Competitors and Their Sports Sponsorship Strategies: - Mars: Hershey's primary competitor. Mars completed its $36 billion acquisition of Kellanova in 2025, significantly expanding its snacking portfolio (Pringles, Cheez-It, Pop-Tarts). Mars has historically avoided large-scale Olympic sponsorship but sponsors the NFL (Snickers) and invests heavily in Super Bowl advertising. Mars's M&M's and Snickers brands are prominent in sports marketing through stadium presence and event-specific campaigns. - Mondelez (Cadbury, Oreo, Toblerone): No Olympic sponsorship. Mondelez sponsors the Premier League and individual sports properties in European markets but has no U.S. Olympic affiliation. - Ferrero (Nutella, Ferrero Rocher, Butterfinger): No Olympic or major U.S. sports sponsorship.
5.2 Olympic Sponsorship Differentiation
As LA28's first and exclusive domestic food partner, Hershey faces no direct category competition within the Games sponsorship framework. Mars has historically avoided Olympic sponsorship, focusing instead on NFL and event-specific advertising (Super Bowl). Coca-Cola (TOP Partner) and Mengniu operate in beverages, not confectionery. The absence of competing confectionery brands from the Olympic space gives Hershey an uncontested category position.
5.3 Key Brand Messaging
- Celebration and togetherness: Confectionery as a vehicle for shared moments
- American heritage: Over 125 years of brand history, deeply associated with American culture
- Portfolio breadth: Multiple iconic brands (Reese's, Kisses, Twizzlers) each with distinct activation potential
6. KEY METRICS & BUSINESS CONTEXT
6.1 Financial Performance
- 2024 Revenue: $11.2 billion (0.3% YoY growth)
- Q4 2024 Revenue: $2.89 billion (8.7% YoY growth)
- North America Confection: 6.0% net sales increase in Q4 2024
- Salty Snacks: 35.9% sales increase in Q4 2024
- 2025 Outlook: Net sales growth of at least 2%; EPS expected down in high-40% range due to commodity costs
- Market Cap: Approximately $30 billion (NYSE: HSY)
6.2 Olympic Period Performance
Specific Olympic-period sales lifts have not been publicly broken out. The 2028 Games on U.S. soil during summer (peak confectionery gifting/consumption period) represents the highest-potential activation window in the partnership's history.
APPENDIX: KEY SOURCES
Official Sources
- LA28 Newsroom: Hershey Sweetens LA28 Olympic and Paralympic Games
- USOPC: Hershey Renews Partnership with Team USA and Joins LA28
- The Hershey Company Newsroom: Leadership announcements
Industry Analysis
- Inside The Games: Hershey unveiled as latest sponsor of LA28
- SportBusiness: Hershey renews Team USA partnership
- Marketing Dive: Hershey media agency appointments
- Ad Age: Publicis MiltonOne formation
Financial Filings
- Hershey Q4/FY2024 Earnings Release (February 2025)
- MacroTrends HSY Historical Revenue Data
End of Research Brief