The Hershey Co. will add to its snack portfolio via acquisition, having announced it has agreed to acquire snack processor LesserEvil, which touts its products as boldly flavored, better-for-you options. The brand joins Hershey’s growing stable of acquired snack brands, led by SkinnyPop, Dot’s Homestyle Pretzels and Pirate’s Booty.
The company announced that the LesserEvil leadership team will continue to lead the brand based on the success of its innovative commercial model, speed-to-market capabilities and manufacturing operations. Michele Buck, president and CEO of The Hershey Co., said the acquisition extends the company’s offerings into new categories and forms, reaching new consumers and eating occasions.
“This high-growth brand not only complements our beloved confection and salty snack brands but also brings additional manufacturing capabilities and capacity to meet growing consumer and retailer needs,” she said in the release.
According to a CNBC “How I Made It” video aired in Sept. 2024, LesserEvil CEO and president Charles Coristine bought the company in 2011 and has turned it into a profitable business with $103 million in gross sales and an estimated EBITDA of $14.4 million in 2023. He said in the video that the company was on pace for $165 million in sales in 2024.
The deal is anticipated to close later in the calendar year, subject to regulatory approval.
