Expanding into meat snacks
The Hershey Company has entered into an agreement to acquire Krave Pure Foods Inc, manufacturer of Krave jerky, an all-natural snack brand of premium jerky products. The transaction will allow Hershey to tap into the rapidly growing meat snacks category and further expand into the broader snacks space.
“Our partnership with Hershey is a testament to our team’s dedication to creating something unexpected and striving to be a cut above the rest. We are confident in our future and look forward to further success with Hershey.”
“Krave jerky is a great fit to our portfolio and overall snacks and adjacencies strategy,” says Michele G Buck, president, North America, The Hershey Company. “The Krave brand delivers on portable and protein nutrition while also understanding consumers’ food preferences, including the desire for simple ingredients and transparency, something that is also a part of Hershey’s strategic vision. We are excited to add Krave jerky’s unique, chef-inspired products and be a part of this transformational category.”
Krave jerky offers consumers a nutritious and premium option when looking for delicious high protein snacks. Founded in 2009 by Jonathan Sebastiani, the company is now a leader in premium jerky, the fastest-growing sub-segment of the estimated $2.5bn US meat snacks category. Krave jerky has catapulted into the category with its reverence to quality, all-natural ingredients and unique flavour approach, including Black Cherry Barbeque Pork Jerky, Basil Citrus Turkey Jerky and Chili Lime Beef Jerky. Krave jerky products are also free of gluten and high fructose corn syrup and have no added nitrites or MSG.
“An important focus of Krave jerky’s business strategy is to push the boundaries within our category and to stay on top of ever-changing consumer needs. Joining the Hershey family will extend our resources for innovation and expand Krave jerky’s presence in the larger healthy snacking category,” says Jonathan Sebastiani, Krave CEO and founder. “Our partnership with Hershey is a testament to our team’s dedication to creating something unexpected and striving to be a cut above the rest. We are confident in our future and look forward to further success with Hershey.”
