Hershey Completes Acquisition of Lily’s Confectionery Brand
HERSHEY, Pa., June 25, 2021 /PRNewswire/ -- The Hershey Company (NYSE: HSY) today announced the completion of its acquisition of Lily’s, the high-growth maker of low-sugar, better-for-you (BFY) confectionery products, for a purchase price of $425 million.
“Lily’s is a great addition to Hershey’s growing portfolio of better-for-you snacking brands, and we are excited to add this high-growth, leading BFY brand and to get to work with its talented and innovative team,” said Chuck Raup, President U.S. “Lily’s popular low-sugar products are a great strategic fit with our multi-pronged better-for-you snacking strategy and will perfectly complement our existing iconic Hershey’s BFY offerings.”
Lily’s mission is to offer consumers a range of great tasting, low sugar treats. Launched with four chocolate-style bars nationally in Whole Foods Market, today the expanded line of bars, baking chips and other confections can be found across the country at key retailers.
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About The Hershey Company
The Hershey Company is headquartered in Hershey, Pa., and is an industry-leading snacks company known for bringing goodness to the world through its iconic brands, remarkable people and enduring commitment to help children succeed. Hershey has approximately 17,000 employees around the world who work every day to deliver delicious, quality products. The company has more than 90 brands around the world that drive more than $8 billion in annual revenues, including such iconic brand names as Hershey’s, Reese’s, Kit Kat®, Jolly Rancher, Ice Breakers, SkinnyPop, and Pirate’s Booty.
For more than 125 years, Hershey has been committed to operating fairly, ethically and sustainably. Hershey founder, Milton Hershey, created the Milton Hershey School in 1909 and since then the company has focused on helping children succeed.
To learn more visit www.thehersheycompany.com.
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SOURCE The Hershey Company