The Hershey Co. has entered into a definitive agreement to acquire Lily’s, the confectionery brand. Lily’s low-sugar products include dark and milk chocolate style bars, baking chips, peanut butter cups and other confection products.
“Hershey is focused on developing a BFY confection portfolio that offers a variety of choices to meet the evolving needs of our consumers,” said Chuck Raup, President of Hershey U.S. “Lily’s is a great strategic complement to our existing offerings in this growing segment of the confection category.”
“Cynthia had the vision that consumers wanted a better-for-you option in confections and today 80% of adults want to cut back on their sugar intake,” said Jane Miller, CEO Lily’s. “By joining the Hershey’s family of brands, Lily’s will become a platform confection brand making BFY options easily accessible to all consumers.”
Gibson, Dunn & Crutcher LLP is advising The Hershey Co.