Hershey makes key move into better-for-you market with LesserEvil acquisition
LesserEvil, a manufacturer of organic snacks including popcorn ranges, is to be acquired this year by Hershey. Pic: LesserEvil
US confectionery group Hershey has made a further strategic move into the better-for-you confectionery market in acquiring organic snacking brand LesserEvil, reports Neill Barston.
According to the major American firm, the purchase of the specialist business will help bolster its overall portfolio that includes a broad range of products that spans brands including including SkinnyPop, Dot’s Homestyle Pretzels and Pirate’s Booty.
The transaction remains subject to regulatory approval with anticipated closing later this year, though no financial details of the deal were disclosed.
“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. 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.”
