The Hershey Company has agreed to acquire Dot’s Pretzels and Pretzels Inc. in two separate deals worth around $1.2 billion.
Based in North Dakota, Dot’s is the owner of Dot’s Homestyle Pretzels. By adding the company to its salty snacks portfolio, Hershey is aiming to reach consumers in new occasions.
Meanwhile, Pretzels is a co-manufacturer of pretzels for Dot’s and other customers, and operates three production sites in Indiana and Kansas.
Hershey says that the acquisition of Pretzels from an affiliate of Peak Rock Capital, will give it “deep pretzel category and product expertise”.
Complementing the four pretzel seasoning facilities to be acquired with Dot’s, Pretzels’ production sites are expected to provide Hershey with the manufacturing capabilities to support the growth of Dot’s and pretzel innovation.
“As the fastest growing US 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 CEO.
“With a unique range of bold, distinctive seasonings and a flavourful crunch that creates a premium pretzel experience for consumers, Dot’s Pretzels stands apart from all other products in the pretzel category and represents 55% of the pretzel category’s growth during the past year.”
Buck continued: “Pretzels Inc. will help us expand Hershey’s snacking and production capabilities while keeping the special connection to Dot’s. It will be important as we continue to grow this already fast-growing brand and create new products in the broader pretzel category.”
The acquisitions are subject to customary regulatory approvals and are expected to close by the end of the year.
By Antonia Garrett Peel
Source: foodbev.com
Cécile Béliot has assumed the role of Bel Group chief executive officer, following the decision to separate the roles of chairman and CEO. The separation of the functions will enable Bel Group to develop in three areas of healthy snacking. Meanwhile, the company’s former CEO, Antoine Fiévet, has had his mandate renewed as chairman of the board.
US Food and Drug Administration (FDA) Commissioner Dr. Robert Califf was grilled by lawmakers during a House Appropriations subcommittee hearing, where he was slammed over the agency’s handling of the escalating infant formula shortage.
Sweegen is ramping up its efforts to reduce sugar across F&B applications while simultaneously tapping into the benefits of using antioxidants and bitter blocking technology. Speaking to FoodIngredientsFirst, Casey McCormick, vice president of global innovation at Sweegen, says product developers can find a broad range of solutions in Sweegen’s nature-based sweetener systems as brands elevate better-for-you foods.
