The Hershey Company (NYSE: HSY) today 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. The combined purchase price was $1.2 billion, or approximately $1 billion of investment net of expected future tax benefits, as previously announced.
The addition of Dot’s Pretzels accelerates Hershey’s snacking powerhouse vision by adding to its portfolio the fastest-growing scale U.S. pretzel brand, representing 55 percent of the pretzel category’s growth during the past year.
Acquiring Pretzels Inc. also brings the pretzel manufacturing capability in-house to ensure the continued growth of Dot’s and expertise to drive future snacking innovations.
As with other recent acquisitions, Hershey will take a phased approach to integrate the businesses in partnership with Dot’s and Pretzels Inc.’s leadership teams as we focus on continued growth of both businesses.