The Hershey Company Announces Intent to Acquire LesserEvil
The Hershey Company (NYSE: HSY) has announced a definitive agreement to acquire LesserEvil, a manufacturer of organic snacks. This strategic acquisition aims to expand Hershey's snacking portfolio beyond its traditional confection brands like Hershey's, Reese's, and Jolly Ranchers, and complement its salty snack brands including SkinnyPop, Dot's Homestyle Pretzels, and Pirate's Booty.
LesserEvil's current leadership team will remain to manage its commercial operations and manufacturing facilities. The acquisition is expected to enhance Hershey's market presence in the better-for-you snack segment, focusing on organic ingredients and bold flavors. The transaction, subject to regulatory approval, is anticipated to close later in 2025.
La Hershey Company (NYSE: HSY) ha annunciato un accordo definitivo per acquisire LesserEvil, un produttore di snack biologici. Questa acquisizione strategica mira ad ampliare il portafoglio di snack di Hershey oltre i suoi tradizionali marchi di dolciumi come Hershey's, Reese's e Jolly Ranchers, e a completare i suoi marchi di snack salati, inclusi SkinnyPop, Dot's Homestyle Pretzels e Pirate's Booty.
Il team di leadership attuale di LesserEvil rimarrà per gestire le sue operazioni commerciali e gli impianti di produzione. Si prevede che l'acquisizione migliori la presenza di Hershey nel segmento degli snack più salutari, concentrandosi su ingredienti biologici e sapori audaci. La transazione, soggetta ad approvazione normativa, dovrebbe chiudersi entro la fine del 2025.
La empresa Hershey (NYSE: HSY) ha anunciado un acuerdo definitivo para adquirir LesserEvil, un fabricante de snacks orgánicos. Esta adquisición estratégica tiene como objetivo ampliar el portafolio de snacks de Hershey más allá de sus marcas tradicionales de confitería como Hershey's, Reese's y Jolly Ranchers, y complementar sus marcas de snacks salados, incluyendo SkinnyPop, Dot's Homestyle Pretzels y Pirate's Booty.
El equipo de liderazgo actual de LesserEvil permanecerá para gestionar sus operaciones comerciales y las instalaciones de fabricación. Se espera que la adquisición mejore la presencia de Hershey en el segmento de snacks más saludables, enfocándose en ingredientes orgánicos y sabores audaces. La transacción, sujeta a la aprobación regulatoria, se anticipa que se cierre a finales de 2025.
허쉬 컴퍼니 (NYSE: HSY)는 유기농 스낵 제조업체인 LesserEvil를 인수하기 위한 확정 계약을 발표했습니다. 이번 전략적 인수는 허쉬의 전통적인 사탕 브랜드인 허쉬, 리시스, 졸리 랜처스를 넘어서 스낵 포트폴리오를 확장하고, 스키니팝, 닷스 홈스타일 프레첼, 파이레츠 부티와 같은 짭짤한 스낵 브랜드를 보완하는 것을 목표로 하고 있습니다.
LesserEvil의 현재 리더십 팀은 상업 운영 및 제조 시설을 관리하기 위해 남아 있습니다. 이 인수는 유기농 재료와 대담한 맛에 중점을 두어 허쉬의 건강한 스낵 시장 존재감을 강화할 것으로 예상됩니다. 이 거래는 규제 승인을 조건으로 하며, 2025년 후반에 마무리될 것으로 예상됩니다.
La société Hershey (NYSE: HSY) a annoncé un accord définitif pour acquérir LesserEvil, un fabricant de snacks biologiques. Cette acquisition stratégique vise à élargir le portefeuille de snacks de Hershey au-delà de ses marques de confiseries traditionnelles telles que Hershey's, Reese's et Jolly Ranchers, et à compléter ses marques de snacks salés, y compris SkinnyPop, Dot's Homestyle Pretzels et Pirate's Booty.
Le personnel de direction actuel de LesserEvil restera en place pour gérer ses opérations commerciales et ses installations de fabrication. L'acquisition devrait renforcer la présence de Hershey sur le marché des snacks plus sains, en se concentrant sur des ingrédients biologiques et des saveurs audacieuses. La transaction, soumise à l'approbation réglementaire, devrait être finalisée d'ici fin 2025.
Die Hershey Company (NYSE: HSY) hat eine endgültige Vereinbarung zur Übernahme von LesserEvil, einem Hersteller von Bio-Snacks, bekannt gegeben. Diese strategische Akquisition zielt darauf ab, das Snack-Portfolio von Hershey über die traditionellen Süßwarenmarken wie Hershey's, Reese's und Jolly Ranchers hinaus zu erweitern und die salzigen Snackmarken wie SkinnyPop, Dot's Homestyle Pretzels und Pirate's Booty zu ergänzen.
Das aktuelle Führungsteam von LesserEvil wird weiterhin die kommerziellen Operationen und Produktionsstätten leiten. Es wird erwartet, dass die Akquisition die Marktpräsenz von Hershey im Segment der gesünderen Snacks verbessert, mit einem Fokus auf biologische Zutaten und kräftige Aromen. Die Transaktion, die der Genehmigung durch die Aufsichtsbehörden unterliegt, wird voraussichtlich Ende 2025 abgeschlossen sein.
- Strategic expansion into growing better-for-you snack segment
- Additional manufacturing capabilities and capacity acquired
- Retention of experienced LesserEvil management team
- Cross-category expansion potential
- Regulatory approval pending with execution risk
- Integration costs and challenges ahead
- Purchase price not disclosed
Insights
Hershey's acquisition of LesserEvil continues its strategic diversification beyond traditional confectionery into the higher-margin better-for-you snacking segment. This follows the company's successful expansion through previous acquisitions including SkinnyPop, Dot's Pretzels, and Pirate's Booty, creating a more balanced portfolio that reduces dependence on seasonal chocolate sales.
The transaction offers three key strategic advantages: (1) entry into the organic snacking category with products that command premium pricing, (2) expanded manufacturing capabilities and capacity, which is particularly valuable amid ongoing supply chain constraints, and (3) access to new consumer segments and eating occasions beyond traditional confectionery moments.
While financial terms aren't disclosed, retaining LesserEvil's leadership team suggests a focus on preserving the brand's market position and innovation pipeline rather than merely consolidating operations. The cross-category platform nature of LesserEvil provides Hershey with expansion opportunities across multiple snacking formats.
This acquisition addresses a strategic gap in Hershey's portfolio by strengthening its position in the better-for-you segment where many traditional CPG companies have struggled to develop successful in-house brands. The regulatory approval process presents minimal execution risk given competitive overlap in Hershey's existing portfolio.
This acquisition perfectly aligns with the CPG industry's multi-category platform strategy - LesserEvil gives Hershey an established brand in the better-for-you space that can be extended across various snacking formats. Rather than building an organic snacking brand from scratch (which typically takes 5-7 years), Hershey gains immediate shelf presence and consumer credibility in a growing segment.
The retention of LesserEvil's leadership indicates Hershey is applying the increasingly successful "founder-led integration" model, where acquired brands maintain operational autonomy while leveraging the parent company's scale advantages in sourcing, distribution, and retailer relationships. This approach has proven more effective than full assimilation, which often dilutes the very brand equity being acquired.
Notably, this acquisition delivers manufacturing capacity expansion - a significant advantage as many competitors face production constraints. For retailers, Hershey becomes a more valuable partner by offering solutions across both indulgent and better-for-you snacking occasions from a single vendor, likely improving shelf space allocation and promotional opportunities.
The move also addresses Hershey's portfolio gap in organic offerings, which have been growing at 2-3× the rate of conventional snacks. By acquiring rather than developing these capabilities internally, Hershey accelerates its competitive positioning against both legacy snacking companies and emerging challenger brands.
"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 and bold flavors 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 to offer the right products, in the right places and at the right time for consumers.
"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," remarked 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.
The transaction remains subject to regulatory approval with anticipated closing later this year.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Many of these forward-looking statements can be identified by the use of words such as "anticipate," "assume," "believe," "continue," "estimate," "expect," "forecast," "future," "intend," "plan," "potential," "predict," "project," "strategy," "target" and similar terms, and future or conditional tense verbs like "could," "may," "might," "should," "will" and "would," among others. These statements are made based upon current expectations that are subject to risk and uncertainty. Because actual results may differ materially from those contained in the forward-looking statements, you should not place undue reliance on the forward-looking statements when deciding whether to buy, sell or hold the company's securities. Factors that could cause results to differ materially include, but are not limited to: the ability to timely satisfy the conditions to the closing the transactions contemplated in the definitive agreement; our ability to realize the benefits of the transaction; risks related to the impact of the coronavirus global pandemic ("COVID-19") on our business, suppliers, distributors, consumers, customers, and employees; the scope and duration of the pandemic; government actions and restrictive measures implemented in response to the pandemic, including the distribution of vaccinations and continuation of social distancing guidelines and stay at home orders; disruptions or inefficiencies in our supply chain due to the loss or disruption of essential manufacturing or supply elements or other factors; issues or concerns related to the quality and safety of our products, ingredients or packaging, human and workplace rights, and other environmental, social or governance matters; changes in raw material and other costs, along with the availability of adequate supplies of raw materials; the company's ability to successfully execute business continuity plans to address the COVID-19 pandemic and resulting changes in consumer preferences and the broader economic and operating environment; selling price increases, including volume declines associated with pricing elasticity; market demand for our new and existing products; increased marketplace competition; failure to successfully execute and integrate acquisitions, divestitures and joint ventures; changes in governmental laws and regulations, including taxes; political, economic, and/or financial market conditions; risks and uncertainties related to our international operations; disruptions, failures or security breaches of our information technology infrastructure; our ability to hire, engage and retain a talented global workforce, our ability to realize expected cost savings and operating efficiencies associated with strategic initiatives or restructuring programs; complications with the design or implementation of our new enterprise resource planning system; and such other matters as discussed in our Annual Report on Form 10-K for the year ended December 31, 2024. All information in this press release is as of April 3, 2025. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
About The Hershey Company
The Hershey Company (NYSE: HSY) is an industry-leading snacks company with a purpose to make more moments of goodness through its iconic brands. With more than 20,000 remarkable employees worldwide,
For more than 130 years,
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FAQ
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