In a strategic move, candy giant Hershey has announced a deal to acquire LesserEvil, a US-based manufacturer specializing in organic snacks.
While the financial specifics of this transaction remain undisclosed, the acquisition showcases Hershey’s commitment to expanding its portfolio in the food and beverage packaging sector.
Connecticut-based LesserEvil offers a diverse range of “better-for-you” snacks, including organic popcorn, Power Curls, Organic Space Balls, and Moonions.
Michele Buck, president and CEO of Hershey, who is set to step down next year, emphasized that acquiring LesserEvil will enhance “additional manufacturing capabilities and capacity.”
“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,” Buck stated.
This acquisition is expected to finalize later this year, pending regulatory approval.
Charles Coristine, CEO of LesserEvil, commented, “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.”
In 2024, Hershey reported net sales of $11.2 billion, reflecting a modest increase of 0.3% from the previous year. Additionally, organic, constant-currency net sales rose by 0.4%.
For the fourth quarter, net sales experienced an encouraging growth of 8.7%, amounting to $2.89 billion.
It’s also noteworthy that these figures incorporated a “0.2-point benefit” stemming from the chocolate company’s acquisition of Sour Strips in November.
