The Hershey Company has announced it has entered into a ‘definitive agreement’ to acquire Lily’s, the high-growth, better-for-you (BFY) confectionery brand.
Lily’s low-sugar products include dark and milk chocolate style bars, baking chips, peanut butter cups and other confection products that fit Hershey’s multi-pronged better-for-you snacking strategy. Lily’s is expected to add a key better-for-you confection brand to Hershey’s portfolio.
According to Hershey, BFY snacking continues to grow faster than mainstream segments across snacking categories, but BFY offerings are still under-developed in confection. The Lily’s acquisition is anticipated to enable Hershey to accelerate this growth and reimagine the “future of the candy aisle” in partnership with retailers
Chuck Raup, President U.S, said: “Hershey is focused on developing a BFY confection portfolio that offers a variety of choices to meet the evolving needs of our consumers. Lily’s is a great strategic complement to our existing offerings in this growing segment of the confection category.”
