Sunday, November 28, 2021

Hershey to acquire pretzel brand

The Hershey Company has entered into a definitive agreement to acquire Dot’s Pretzels LLC, the owner of Dot’s Homestyle Pretzels, the fastest-growing scale brand in the pretzel category.

Dot’s Pretzels complement Hershey’s growing salty snacking portfolio and would create an opportunity to reach new consumers in new occasions, advancing Hershey’s snacking powerhouse vision.

“As the fastest growing U.S. pretzel brand, Dot’s Pretzels would further accelerate our success in the permissible salty snack category, along with our successful SkinnyPop and Pirate’s Booty brands,” said Michele Buck, The Hershey Company President and Chief Executive Officer.

“With a unique range of bold, distinctive seasonings and a flavorful crunch that creates a premium pretzel experience for consumers, Dot’s Pretzels stand apart from all other products in the pretzel category and represents 55 percent of the pretzel category’s growth during the past year.”

Hershey has also announced it has entered into a definitive agreement to acquire Pretzels Inc. from an affiliate of Peak Rock Capital, a private investment firm with numerous investments in the food and beverage industry.

Pretzels Inc. is a co-manufacturer of pretzels for Dot’s Pretzels and several other customers and is an innovator in the pretzel category. Based in Bluffton, Indiana, Pretzels Inc. operates three manufacturing locations in Indiana and Kansas.

When the transactions are completed, these three manufacturing locations would be in addition to four pretzel-seasoning facilities to be acquired with Dot’s.

“Pretzels Inc. will help us expand Hershey’s snacking and production capabilities while keeping the special connection to Dot’s,” added Buck. “It will be important as we continue to grow this already fast-growing brand and create new products in the broader pretzel category.”

The total purchase price for these two proposed acquisitions is approximately $1.2 billion.

The acquisitions are subject to customary regulatory approvals and are expected to close by the end of 2021.

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