Hershey Announces Investments in Emerging Snacking Businesses
Source: Nasdaq GlobeNewswire / 19 Aug 2019 11:00:06 Europe/London
HERSHEY, Pa., Aug. 19, 2019 (GLOBE NEWSWIRE) -- The Hershey Company (NYSE:HSY) is further expanding its position as a snacking category leader, announcing minority investments in emerging snacking businesses FULFIL Holdings Limited and Blue Stripes LLC.
C7 Ventures, Hershey’s venture model, provides the company with new avenues for growth through the deployment of small capital investments in disruptive or emerging platforms focused on new occasions, new technologies and new go-to-market opportunities.
“Successful companies evolve and engage consumers in new and different ways,” said Mary Beth West, Chief Growth Officer. “As we continue to expand our snacking portfolio, our innovation agenda takes a balanced approach across investing in core brands and experimenting with new business models. This includes creating new platforms through R&D, strategic acquisitions and investments in businesses that are sitting at the cross section of new consumer snacking needs.”
FULFIL is a one of the leading makers of great tasting, vitamin fortified, high protein nutrition bars in the UK and Ireland. The partnership will create opportunities in new occasions among new consumer segments and markets.
Founded by Oded Brenner, a recognized innovator, cacao entrepreneur and creator of Max Brenner, a chocolate sensory immersion, Blue Stripes Cacao Shop enables further go-to-market opportunities by offering experiential retail that combines the goodness of cocoa with a unique customer experience.
The Hershey Company
The Hershey Company, celebrating its 125th anniversary in 2019, is headquartered in Hershey, Pa., and is an industry-leading snacks company known for bringing goodness to the world through its iconic brands, remarkable people and enduring commitment to help children succeed. Hershey has approximately 16,500 employees around the world who work every day to deliver delicious, quality products. The company has more than 80 brands that drive more than $7.8 billion in annual revenues, including such iconic brand names as Hershey’s, Reese’s, Kit Kat, Jolly Rancher, Ice Breakers, SkinnyPop and Pirate’s Booty.
For 125 years, Hershey has been committed to operating fairly, ethically and sustainably. Hershey founder, Milton Hershey, created Milton Hershey School in 1909 and since then the company has focused on helping children succeed.
To learn more, visit www.thehersheycompany.com
Media Contact: Leigh Horner