Hershey announces intent to acquire LesserEvil
The Hershey Company announced it has entered into a definitive agreement to acquire LesserEvil, a maker of organic snacks.
The addition of LesserEvil will further expand Hershey's snacking portfolio across its long-established confection brands like Hershey's, Reese's and Jolly Ranchers and emerging salty snack brands including 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, president and chief executive officer, The Hershey Company. "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."
The leadership team at LesserEvil will work with The Hershey Company and continue leading its speed-to-market capabilities and manufacturing operations.
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"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, 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 our team. Hershey's century-long legacy of excellence creates not just strategic alignment but 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.
