USA: Hershey expands further into snacks business with acquisition of Krave Pure Foods
Hershey has announced that it has entered into an agreement to acquire the meat snack maker Krave Pure Foods for an undisclosed amount.
Krave is an all-natural jerky brand producing a range of more unusual flavours including Black Cherry Barbeque Pork Jerky, Basil Citrus Turkey Jerky and Chili Lime Beef Jerky.
“Krave Jerky is a great fit to our portfolio and overall snacks and adjacencies strategy”, said Michele G. Buck, president of North America for The Hershey Co. “The Krave brand delivers on portable and protein nutrition while also understanding consumers’ food preferences, including the desire for simple ingredients and transparency, something that is also a part of Hershey’s strategic vision”.
According to Hershey, the transaction will allow the company to enter into the meat snack segment and expand and strengthen its presence in the overall snack market.
“Joining the Hershey family will extend our resources for innovation and expand Krave jerky’s presence in the larger healthy snacking category”, commented Jonathan. Sebastiani, chief executive officer of Krave.