The Hershey Co. will acquire Lily’s, a better-for-you confectionery brand. Lily’s products fit Hershey’s better-for-you snacking strategy and its portfolio of iconic chocolate and candy favorites, according to the company.
"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., in a statement. "Lily's is a great strategic complement to our existing offerings in this growing segment of the confection category."
Based in Boulder, Colorado, 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, Tice 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 country. The brand's mission is to offer consumers a range of great tasting, low sugar treats.
"Cynthia had the vision that consumers wanted a better-for-you option in confections and today 80 percent of adults want to cut back on their sugar intake," said Jane Miller, CEO Lily's, in a statement. "By joining the Hershey's family of brands, Lily's will become a platform confection brand making BFY options easily accessible to all consumers."
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Image: Lily's