Sonoma Brands, a California-based private equity investor has announced the acquisition of Krave Pure Foods brand from The Hershey Company for an undisclosed amount.
Dedicated to the production of protein snacks, Krave Pure Foods portfolio includes Krave Meat Cuts, Krave Pork Rinds, and most recently, Krave Plant-Based Jerky.
According to sources, the company expects to accelerate innovation at the company, through the acquisition.
Hector de la Barreda, president at Hershey’s-owned Amplify Snack Brands, said: “Krave is a great brand with a loyal fanbase who appreciate its innovative gourmet flavours and culinary roots tracing back to its origins in Sonoma, California”.
Sebastiani, Sonoma Brands’ founder and managing partner, added: “From expanding Krave’s product offerings to dipping into the plant-based category and increasing worldwide distribution, Krave is in a great spot to come back home to Sonoma where we can continue the brand’s fantastic momentum as a category leader”.