Hershey Expands Sweets Portfolio with Acquisition of Sour Strips
The Hershey Company (NYSE: HSY) has acquired Sour Strips, a sour candy brand founded in 2019 by social media personality Maxx Chewning. The acquisition aims to enhance Hershey's presence in the sour candy category and expand its reach to new consumers. Sour Strips, known for its "sour candy that doesn't suck" tagline and strong social media presence, will continue to have Chewning leading its marketing and innovation efforts. The brand focuses on combining shockingly sour flavors with innovative branding to elevate the candy experience.
La Hershey Company (NYSE: HSY) ha acquisito Sour Strips, un marchio di caramelle acidule fondato nel 2019 dalla personalità dei social media Maxx Chewning. L'acquisizione mira a rafforzare la presenza di Hershey nella categoria delle caramelle acidule ed espandere la sua portata a nuovi consumatori. Sour Strips, conosciuto per il suo slogan "caramelle acidule che non fanno schifo" e una forte presenza sui social media, continuerà ad avere Chewning a capo dei suoi sforzi di marketing e innovazione. Il marchio si concentra sulla combinazione di sapori incredibilmente aspri con un branding innovativo per elevare l'esperienza della caramella.
La Hershey Company (NYSE: HSY) ha adquirido Sour Strips, una marca de caramelos ácidos fundada en 2019 por la personalidad de las redes sociales Maxx Chewning. La adquisición tiene como objetivo fortalecer la presencia de Hershey en la categoría de caramelos ácidos y expandir su alcance a nuevos consumidores. Sour Strips, conocido por su lema "caramelos ácidos que no apestan" y su fuerte presencia en redes sociales, seguirá teniendo a Chewning liderando sus esfuerzos de marketing e innovación. La marca se enfoca en combinar sabores sorprendentemente ácidos con un branding innovador para elevar la experiencia del caramelo.
허쉬 컴퍼니 (NYSE: HSY)가 2019년 소셜 미디어 인물 맥스 츄닝에 의해 설립된 신맛 사탕 브랜드 사워 스트립스를 인수했습니다. 이번 인수는 허쉬가 신맛 사탕 카테고리에서의 입지를 강화하고 새로운 소비자에게 도달하는 것을 목표로 하고 있습니다. '먹을 만한 신맛 사탕'이라는 슬로건과 강력한 소셜 미디어 존재감으로 알려진 사워 스트립스는 마케팅과 혁신 노력을 계속하여 츄닝이 이끌게 됩니다. 이 브랜드는 놀라울 만큼 신 맛을 혁신적인 브랜딩과 결합하여 사탕 경험을 향상시키는 데 주력하고 있습니다.
La Hershey Company (NYSE: HSY) a acquis Sour Strips, une marque de bonbons acides fondée en 2019 par la personnalité des réseaux sociaux Maxx Chewning. Cette acquisition vise à renforcer la présence de Hershey dans la catégorie des bonbons acides et à élargir sa portée à de nouveaux consommateurs. Sour Strips, connu pour son slogan "des bonbons acides qui déchirent" et sa forte présence sur les réseaux sociaux, continuera d'avoir Chewning à la tête de ses efforts de marketing et d'innovation. La marque se concentre sur la combinaison de saveurs étonnamment acides avec un branding innovant pour élever l'expérience des bonbons.
Die Hershey Company (NYSE: HSY) hat Sour Strips übernommen, eine saure Bonbonmarke, die 2019 von der Social-Media-Persönlichkeit Maxx Chewning gegründet wurde. Die Akquisition zielt darauf ab, die Präsenz von Hershey im Bereich der sauren Bonbons zu stärken und die Reichweite auf neue Verbraucher auszudehnen. Sour Strips, bekannt für seinen Slogan "saure Bonbons, die nicht schlecht sind" und eine starke Präsenz in sozialen Medien, wird weiterhin von Chewning in seinen Marketing- und Innovationsbemühungen geleitet. Die Marke konzentriert sich darauf, schockierend saure Geschmacksrichtungen mit innovativem Branding zu kombinieren, um das Bonbon-Erlebnis zu verbessern.
- Strategic expansion into the sour candy category
- Acquisition of a fast-growing brand with established social media presence
- Retention of founder for marketing and innovation continuity
- None.
Insights
The acquisition of Sour Strips represents a strategic move into the growing sour candy segment, particularly targeting younger demographics through social media channels. This complements Hershey's traditional chocolate-focused portfolio and addresses changing consumer preferences. Key strategic benefits include:
- Access to Gen Z and millennial consumers through Sour Strips' strong social media presence
- Diversification beyond chocolate into the expanding sour candy market
- Retention of founder Maxx Chewning, maintaining brand authenticity and social media influence
While the financial terms weren't disclosed, this acquisition follows Hershey's pattern of purchasing emerging brands with strong growth potential. The deal should contribute to incremental revenue growth, though likely not material to Hershey's overall financial performance in the short term given the relative size of Sour Strips.
This bolt-on acquisition aligns with Hershey's strategy of expanding its non-chocolate portfolio to drive growth and reduce dependency on cocoa prices. The sour candy segment has shown robust growth rates, outpacing traditional chocolate categories. While the deal size isn't disclosed, Sour Strips' digital-first approach and established e-commerce presence should provide immediate distribution synergies and operational efficiencies. The retention of the founder for marketing and innovation suggests a structured earnout agreement, typical for founder-led acquisitions. This deal structure often helps maintain brand momentum while managing acquisition costs.
Founded in 2019 by social media personality Maxx Chewning, Sour Strips set out to invigorate the sour candy category with a distinctive product that combines shockingly sour flavors with innovative branding to elevate the candy experience. Chewning will continue to lead marketing and innovation efforts for the brand.
"The acquisition of Sour Strips expands
"Our partnership with The Hershey Company represents a significant step in our mission to innovate and set new standards within the Confection category," said Maxx Chewning, Founder of Sour Strips. "
About The Hershey Company
The Hershey Company (NYSE: HSY) is an industry-leading snacks company known for making more moments of goodness through its iconic brands, remarkable people and enduring commitment to doing the right thing for its people, planet, and communities.
For over 130 years,
To learn more visit www.thehersheycompany.com.
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SOURCE The Hershey Company
FAQ
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