Tuesday, June 2, 2020

Hershey sells artisanal jerky brand to private equity investor

Artisanal jerky brand Krave has been acquired from The Hershey Company for an undisclosed amount by emerging brands private equity investor, Sonoma Brands.

Krave was formed in 2009 at the forefront of the so-called “jerky renaissance”, rising in popularity until it was acquired by The Hershey Company in 2015.

As well as boasting the typical meat cuts and pork rind varieties, the company’s most recent launch is plant-based jerky.

Sonoma Brands was founded by Jon Sebastiani, who is also the founder and creative force behind Krave. Now that the brand is back under his control, a higher degree of innovation is expected in the future.

“I have always had a great relationship with The Hershey Company and watched them grow Krave,” said Mr Sebastiani.

“From expanding KRAVE’s product offerings to dipping into the plant-based category and increasing worldwide distribution, Krave is in a great spot to come back home to Sonoma where we can continue the brand’s fantastic momentum as a category leader.”

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