Krackel contains crisped rice, and is similar to the competing Nestlé Crunch bar made by Nestlé. Krackel originally sold as an individual candy bar product, and is now only available as one of the four varieties of Hershey's Miniatures. Introduced in 1938, Krackel originally also had almonds in its formula. Peanuts were then added in 1939, but both the almonds and peanuts were removed in 1941. The product's packaging can be identified by its distinctive red background with white lettering.
The Hershey Company started to change the ingredients of some of its products, in order to replace the relatively expensive cocoa butter with cheaper oil substitutes.  Hershey's changed the description of the product and altered the packaging slightly along with the ingredients. Though the new formula contains chocolate, according to United States Food and Drug Administration food labeling laws, these modified recipes which do not contain cocoa butter can not be legally described as milk chocolate. Other products which no longer contain cocoa butter and cannot be described in the United States as containing milk chocolate include Hershey's Kissables, Milk Duds, Mr. Goodbar, and Whatchamacallit.