HERSHEY, Pa. –The Hershey Co. has entered into a definitive agreement to acquire Danbury-based LesserEvil, maker of organic snacks, the candy maker announced Thursday, April 3.
The price of the acquisition is $750 million, according to The Wall Street Journal.
The addition of LesserEvil will further expand Hershey’s snacking portfolio across its long-established confection brands like Hershey’s, Reese’s and Jolly Ranchers and emerging salty snack brands including SkinnyPop, Dot’s Homestyle Pretzels and Pirate’s Booty.
“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 Co. president and CEO. “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 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,” said LesserEvil CEO Charles Coristine.
“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.”
The transaction remains subject to regulatory approval with anticipated closing later this year.
