Hershey to acquire Lily’s confectionery brand
The Hershey Company has entered into a definitive agreement to acquire Lily’s, a better-for-you (BFY) confectionery brand. Lily’s low-sugar products include dark and milk chocolate style bars, baking chips, peanut butter cups and other confection products that fit Hershey’s multi-pronged better-for-you snacking strategy. Lily’s will add a key better-for-you confection brand to Hershey’s portfolio of chocolates and candies.
“Hershey is focused on developing a BFY confection portfolio that offers a variety of choices to meet the evolving needs of our consumers,” said Chuck Raup, President U.S. “Lily’s is a great strategic complement to our existing offerings in this growing segment of the confection category.”
Based in Boulder, Colo., Lily’s traces its roots to co-founder Cynthia Tice’s decision to raise awareness about better-for-you foods by opening Center Foods, a natural foods store, in Philadelphia in 1978. In 2012, Cynthia launched four Lily’s chocolate style bars nationally in Whole Foods Market and today the expanded line of bars, baking chips and other confections can be found across the United States. The brand’s mission is to offer consumers a range of great tasting, low sugar treats.