Add-on Acquisition • Food

Hershey Acquires Sour Strips

On November 8, 2024, Hershey acquired food company Sour Strips

Acquisition Context
  • This is Hershey’s 17th transaction in the Food sector.
  • This is Hershey’s 13th transaction in the United States.
  • This is Hershey’s 3rd transaction in Texas.

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M&A Deal Summary

Date November 8, 2024
Target Sour Strips
Sector Food
Buyer(s) Hershey
Deal Type Add-on Acquisition

Target Company

Sour Strips

Stafford, Texas, United States
Sour Strips is a brand of sour candy that specializes in delivering an intense, bold, and flavorful experience for sour candy enthusiasts. Sour Strips was founded in 2019 and is based in Stafford, Texas.
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Buyer Overview 1

Buyer

Hershey

Hershey, Pennsylvania, United States

Category Company
Founded 1894
Sector Food
Employees18,650
Revenue 11.2B USD (2024)
DESCRIPTION

Hershey is a producer of chocolate and sugar confectionery products; gum and mint refreshment products; and pantry items, such as baking ingredients, toppings and beverages. The company's five operating segments comprise geographic regions including the United States, Canada, Mexico, Brazil and other international locations, such as India, Korea, Japan, the Middle East, China and the Philippines. The Hershey was founded in 1894 and is based in Hershey, Pennsylvania.


Deal Context for Buyer #
Overall 17 of 18
Sector: Food 17 of 18
Type: Add-on Acquisition 14 of 15
State: Texas 3 of 3
Country: United States 13 of 14
Year: 2024 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-10 Dot s Pretzels

Velva, North Dakota, United States

Dot's Pretzels is the owner of Dot's Homestyle Pretzels, the fastest-growing scale brand in the pretzel category. Dot's Pretzels was founded in 2012 and is based in Velva, North Dakota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-03 LesserEvil

Danbury, Connecticut, United States

LesserEvil is a producer of organic popcorn, grain-free organic puffs, grain-free egg white curls, keto-certified mini cookies, and veggie sticks lines. LesserEvil is based in Danbury, Connecticut.

Buy -