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Running head: TOOTSIE ROLL INDUSTRIES FINANCIAL ANALYSIS
Financial Analysis of Tootsie Roll Industries
Daniel Pogue
Webster University
BUSN 5200
David Beck
Dec 8, 2010
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TOOTSIE ROLL INDUSTRIES FINANCIAL ANALYSIS
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Financial Analysis of the Tootsie Roll Industries
PART I, COMPANY OVERVIEW:
a. Brief description of the company
Tootsie Roll Industries is recognized as one of the largest candy producers in
America. Tootsie's brands include some of the most popular and well-known candy
names: Tootsie Roll, Tootsie Pop, Charms Blow Pop, Mason Dots, Andes, Sugar Daddy,
Charleston Chew, Dubble Bubble, Razzles, Caramel Apple Pop, Junior Mints, Cella's
Chocolate-Covered Cherries, and Nik-L-Nip. They are sold in a variety of venues,
including supermarkets, warehouse and membership stores, vending machines, dollar
stores, drug stores, and convenience stores. Together, the Tootsie brands are strong
among every age group, culture, and demographic; for every occasion and event; and
during every economic climate, qualifying them as truly enduring, iconic American
confections. (Gordon, Tootsie Roll Industries, Mar 2010)
b. Company History
The Tootsie Roll story began in 1896, when Austrian-born Leo Hirshfield opened
a small candy shop in New York City. Taking advantage of his confectioner’s
background, Hirshfield hand-crafted a variety of products, including an individually
wrapped, oblong, chewy, chocolate candy that quickly became a customer favorite.
Sold at a penny apiece and affectionately named after Hirshfield’s five-year old
daughter, Clara, whose nickname was “Tootsie,” Tootsie Rolls propelled Hirshfield’s
modest corner store into burgeoning candy enterprise that has evolved in little more than
a century into the multinational corporation, Tootsie Roll Industries. (Tootsie Roll
Industries, Corporate History, Dec 2010) In 1905, Hirshfield moved the production to a
TOOTSIE ROLL INDUSTRIES FINANCIAL ANALYSIS
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