US confectionery firm Hershey has announced the acquisition of two manufacturing facilities from Weaver Popcorn Manufacturing, a leader in popcorn production.
In a press release, Hershey said the deal includes Weaver Popcorn’s plants in Bethlehem (PA) and Whitestown (IN).
Hershey and Weaver Popcorn are already co-manufacturers of the Hershey’s SkinnyPop brand and the acquisition will help to strengthen the brand, enabling it to grow in volume and quality, Hershey add
Kristen Riggs, president of salty snacks at Hershey, said: “Hershey has experienced tremendous growth over the past few years, stemming from a combination of successful strategy execution and an increase in more snacking occasions among consumers. In fact, SkinnyPop has been number one in retail sales growth for ready-to-eat popcorn over the last three years”.
The deal comes one year after the company acquired Pretzels Inc. in order to expand its salty snacks production. The acquisition will reportedly be financed with cash on hand, as well as short-term borrowings, but the value was not disclosed.
Source: Hershey (via PR Newswire)