Candy giant Hershey has signed a deal to buy LesserEvil, a US-based organic snack manufacturer.
The fnancial terms of the transaction have not been disclosed.
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Connecticut-based LesserEvil markets a range “better-for-you” snacks including organic popcorn, Power Curls, Organic Space Balls and Moonions.
Hershey president and CEO Michele Buck, who is set to step down next year, said the acquisition of LesserEvil will bring “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 said.
The deal is slated for completion later in the year, contingent on securing regulatory approval.
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By GlobalDataLesserEvil CEO Charles Coristine said: “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 generated net sales of $11.2bn, up 0.3% from the previous year. Organic, constant-currency net sales increased 0.4%.
In the fourth quarter, net sales grew by 8.7% to $2.89bn.
These figures included a “0.2-point benefit” from the chocolate company’s acquisition of Sour Strips in November.
