The Hershey Co. this week announced the completion of its acquisition of Dot's Pretzels, the owner of Dot's Homestyle Pretzels, and Pretzels Inc., a leading manufacturer of pretzels in the United States. As previously announced, the combined purchase price was $1.2 billion, or approximately $1 billion of investment net of expected future tax benefits.
Hershey said the addition of Dot's Pretzels accelerates its "snacking powerhouse vision by adding to its portfolio the fastest-growing scale U.S. pretzel brand, representing 55% of the pretzel category's growth during the past year."
At the same time, acquiring Pretzels Inc. brings the pretzel manufacturing capability in-house to ensure the continued growth of Dot's and expertise to drive future snacking innovations.
Hershey said it will take a phased approach to integrate the businesses in partnership with Dot's and Pretzels Inc.'s management teams.