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Hershey To Acquire Two Manufacturing Facilities From Weaver Popcorn Manufacturing

Apr 17, 2023•over 2 years ago

Acquiring Company

The Hershey Company

Acquired Company

Two Manufacturing Facilities

HersheyManufacturing

Description

The Hershey Company (NYSE: HSY) today announced it has entered into a definitive agreement to acquire two manufacturing plants from Weaver Popcorn Manufacturing, a recognized leader in popcorn production and co-packing, and a co-manufacturer of Hershey's SkinnyPop brand. Through the deal, Hershey will acquire Weaver's operations in Bethlehem, Pennsylvania and Whitestown, Indiana.

Company Information

Company

The Hershey Company

Location

Hershey, Pennsylvania, United States

About

The Hershey Company (NYSE: HSY) is an industry-leading snacks company with a purpose to make more moments of goodness through its iconic brands. With more than 20,000 remarkable employees worldwide, Hershey delivers delicious, high-quality products across approximately 70 countries, generating over $11.2 billion in annual revenues. The company's portfolio includes beloved chocolate and confectionery brands such as Hershey's, Reese's, Kisses, Kit Kat®, Jolly Rancher, Ice Breakers, Shaq-a-licious alongside popular salty snacks including SkinnyPop and Dot's Homestyle Pretzels.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed