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Exciting news in the snack industry as Hershey announces its intent to acquire LesserEvil, a brand known for its organic snacks with bold flavors and better-for-you ingredients. The deal, valued at approximately $750 million, is another strategic move by Hershey to expand its presence in the salty snacks market.
Key Points:
- LesserEvil specializes in making popcorn, puffs, curls, and other snacks using healthier ingredients like coconut oil and avocado oil.
- This acquisition strengthens Hershey’s position in the salty snacks sector and adds a fast-growing brand to its portfolio.
- Hershey’s recent ventures into salty snacks include the acquisitions of SkinnyPop, Pirate’s Booty, Dot’s Homestyle Pretzels, and now LesserEvil.
- The company’s CEO, Michele Buck, sees the acquisition as a way to reach new consumers and expand into new snack categories.
What’s Next for Hershey:
Hershey, known for its iconic sweets, has been diversifying its product offerings in recent years. The move into salty snacks has been a strategic decision to tap into new markets and cater to evolving consumer preferences.
With the addition of LesserEvil, Hershey aims to continue innovating in the snack space and providing unique flavor profiles to its customers. The acquisition also brings additional manufacturing capabilities to meet the growing demand for healthier snack options.
Industry Trends:
The acquisition of LesserEvil is part of a larger trend in the food industry where established companies are acquiring smaller brands to drive growth and expand their product portfolios. Companies like PepsiCo, Conagra Brands, and Flowers Foods have all made similar moves to capitalize on the growing demand for better-for-you snacks.
Stay tuned for more updates on Hershey’s latest acquisition and other industry news!