The Hershey Co. (NYSE: HSY) has purchased snacks company Ripple Brand Collective LLC. The Congers, New York-based target owns the BarkThins brands, which makes chocolate pumpkin seeds, peanuts and pretzels. BarkThins’ products are made without artificial flavors and preservatives.
“BarkThins addresses key consumer trends, such as premium, high quality ingredients and snacking,” says Hershey North America president Michele Buck. BarkThins are sold in convenience and grocery stores. The company expects to generate up to $75 million in net sales in 2016. Additional financial terms of the acquisition were not disclosed.
Hershey, headquartered in Hershey, Pennsylvania, is known for confections, including sweets, mints and other snacks, such as Reese's, Hershey's Kisses, Jolly Rancher and Ice Breakers. In 2015, the company acquired jerky-maker Krave Pure Foods Inc., as part of its plan to diversify beyond candy.
Snack companies have been receiving robust buyer interest. B&G Foods (NYSE: BGS) is expected to look for deals in the food sector; Clearlake Capital Group acquired a stake in tortilla chips maker That’s How We Roll LLC. That deal came shortly after Clearlake launched Better For You Holdings, a company to look for deals in the food sector. Also, Hammond, Kennedy, Whitney & Co. Inc. invested in cookies and crackers producer Panos Brands.