USA | The Hershey Company announced it has entered into a definitive agreement to acquire LesserEvil, maker of organic, delectable snacks that combine bold flavours with better-for-you ingredients.
The addition of LesserEvil will further expand Hershey's snacking portfolio, including long-established confection brands like Hershey's, Reese's, and Jolly Ranchers and emerging salty snack brands like SkinnyPop, Dot's Homestyle Pretzels, and Pirate's Booty.
"Investing in LesserEvil brings a multi-category, better-for-you snacks platform to extend our offerings into new categories and forms, reaching new consumers in more eating occasions," said Michele Buck, The Hershey Company President and Chief Executive Officer.
"This high-growth brand not only complements our beloved confection and salty snack brands but also brings additional manufacturing capabilities and capacity to meet growing consumer and retailer needs."
LesserEvil is growing as a cross-category snack brand for those who desire interesting, bold flavours with organic ingredients. Its leadership team will continue with the company to lead its innovative commercial model, speed-to-market capabilities and manufacturing operations.
Working together, the team aims to deliver category-leading growth and elevated category insights, offering consumers the right products in the right places and time.
"LesserEvil has always been built on a foundation of clear purpose, constant innovation, and a deep commitment to our people, fostering a vibrant culture rooted in mindfulness and better-for-you snacking using organic ingredients," said Charles Coristine, Chief Executive Officer of LesserEvil.
"Joining a company that shares our passion for responsible business, giving to a cause greater than oneself, and long-term vision makes this an incredible opportunity for our brand and team. Hershey's century-long legacy of excellence creates strategic alignment and a true cultural home where we can continue to grow and make an impact."
The transaction remains subject to regulatory approval with anticipated closing later this year.
