Hershey Buys Lily's Confectionery Brand for $425m
Last month, it was announced that The Hershey Company entered into a definitive agreement to acquire Lily’s, a maker of low-sugar chocolate products. The financial terms of that agreement are now known, as the purchase has been completed for the price of $425 million.
"Lily's is a great addition to Hershey's growing portfolio of better-for-you snacking brands, and we are excited to add this high-growth, leading BFY brand and to get to work with its talented and innovative team," says Chuck Raup, president, US, The Hershey Company. "Lily's popular low-sugar products are a great strategic fit with our multi-pronged better-for-you snacking strategy and will perfectly complement our existing iconic Hershey's BFY offerings."
Lily's mission is to offer consumers a range of great tasting, low sugar treats. Launched with four chocolate-style bars nationally in Whole Foods Market, today the expanded line of bars, baking chips and other confections can be found across the country at key retailers.