Hershey Bets on Better-for-You Snacks With LesserEvil Deal

Core Viewpoint - The Hershey Company is acquiring LesserEvil to expand its portfolio into the better-for-you snacking market, aligning with changing consumer preferences [1][3][7] Group 1: Acquisition Details - Hershey plans to acquire LesserEvil, a brand known for organic snacks, which will enhance its snack portfolio [1][2] - The acquisition is subject to regulatory approval and is expected to close later this year [1] - LesserEvil's focus on bold flavors and clean ingredients complements Hershey's existing brands [2][3] Group 2: Strategic Implications - This acquisition will broaden Hershey's healthier snack offerings and introduce new product categories [3] - LesserEvil's manufacturing capabilities are expected to improve production efficiency for Hershey [3] - The move reflects Hershey's strategy to balance its traditional confectionery business with modern snacking trends [3][7] Group 3: Market Context - Hershey is undergoing a transformation to drive long-term growth by streamlining operations and improving efficiency [5] - The company is enhancing its marketing strategy to align with consumer trends and integrate its supply chain [5] - Hershey faces challenges such as high cocoa prices, changing consumer spending habits, and increased competition [6]