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Hershey10-K: Customer concentration

McLane Company accounted for 27% of consolidated net sales in 2025

What happened

A single customer, wholesale distributor McLane Company, represents over a quarter of Hershey's total revenue, creating significant risk. This dependency could drive initiatives to diversify distribution channels or improve supply chain visibility and collaboration with this key partner.

Source

SEC EDGARFeb 17, 2026

Annual report (Form 10-K)

Hershey 10-K for FY2025

Filing excerpt

In 2025, approximately 27% of our consolidated net sales were made to McLane Company, Inc., one of the largest wholesale distributors in the United States (“U.S.”) to convenience stores, drug stores, wholesale clubs and mass merchandisers and the primary distributor of our products to Wal-Mart Stores, Inc.

sec.gov/Archives/edgar/data/47111/000162828026008586/hsy-20251231.htmRead the full source

Other signals in this filing (11)

Extracted by Autobound

From the Signal API record
Signal
10-K: Customer concentration

What this signalsFilings often name leadership changes, deals and spending plans.

Period
FY2025
Fiscal year end
12/31
Filed
Feb 17, 2026

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The full record

From the Signal API record

Numbers

Percent
27% (Portion of 2025 consolidated net sales made to McLane Company, Inc.)

Details

CIK
47111
Accession number
0001628280-26-008586
Timeframe
Current year
Filing year
2026
Why it matters
Diversification strategy
Signal category
Market

Topics and mentions

Vendors

  • McLane Company
  • Inc.

Regions named

  • North America
  • United States

Vendors named

  • McLane Company, Inc.

Extraction

Confidence
High
Relevance
90%
Sentiment
Negative
Detected
Feb 24, 2026
signal_type
sec-10k
signal_subtype
customerConcentration

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The API returns more than this page shows

This page shows a preview. The full sec-10k record in the Signal API and MCP can also have these 8 fields. Some fields are empty for some signals.

Company

  • linkedin_urlValue in the API
  • industriesValue in the API
  • employee_count_lowValue in the API
  • employee_count_highValue in the API
  • revenueValue in the API
  • descriptionValue in the API

Signal

  • signal_nameValue in the API
  • associationValue in the API
Show the full JSONThe record on this page and the API request

GET /v1/signals/f45f6bb7-48d5-4e7a-bc4e-7d900de7ffab returns this record as JSON. POST /v1/companies/enrich returns every signal for thehersheycompany.com.

{
  "signal_id": "f45f6bb7-48d5-4e7a-bc4e-7d900de7ffab",
  "signal_type": "sec-10k",
  "signal_subtype": "customerConcentration",
  "detected_at": "2026-02-24T09:24:57.826+00:00",
  "company": {
    "name": "Hershey",
    "domain": "thehersheycompany.com"
  },
  "data": {
    "detail": "A single customer, wholesale distributor McLane Company, represents over a quarter of Hershey's total revenue, creating significant risk. This dependency could drive initiatives to diversify distribution channels or improve supply chain visibility and collaboration with this key partner.",
    "metrics": {
      "pct": 0.27,
      "timeframe": "current_year",
      "pct_context": "Portion of 2025 consolidated net sales made to McLane Company, Inc."
    },
    "summary": "McLane Company accounted for 27% of consolidated net sales in 2025",
    "excerpts": "In 2025, approximately 27% of our consolidated net sales were made to McLane Company, Inc., one of the largest wholesale distributors in the United States (“U.S.”) to convenience stores, drug stores, wholesale clubs and mass merchandisers and the primary distributor of our products to Wal-Mart Stores, Inc.",
    "relevance": 0.9,
    "sentiment": "negative",
    "confidence": "high",
    "source_url": "https://www.sec.gov/Archives/edgar/data/47111/000162828026008586/hsy-20251231.htm",
    "filing_date": "2026-02-17",
    "filing_year": 2026,
    "fiscal_year_end": "12/31",
    "sales_relevance": "Diversification strategy",
    "signal_category": "market",
    "regions_mentioned": [
      "North America",
      "United States"
    ],
    "vendors_mentioned": [
      "McLane Company, Inc."
    ]
  }
}

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