Hershey Co. last week announced the completion of its acquisition of Lily's, a maker of low-sugar, better-for-you confectionery products. The purchase price was $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," said Hershey U.S. president Chuck Raup.
"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," he added.
Lily's launched in 2012 with four chocolate-style bars nationally in Whole Foods Market. Today, its expanded line of bars, baking chips and other confections can be found across the country at key retailers.