Hershey Buys Krave Jerky Maker in Meats Snacks Move

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Hershey (NYSE:HSY) has announced that it’s buying jerky maker Krave Premium Foods.

hershey-krave-jerky-hsyKrave will operate separate of Hershey and will still be headed by current CEO Jonathan Sebastiani. However, Sebastiani will be required to report back to the chocolate maker. The jerky maker reported $35 million in sales in the last year, reports Forbes.

Hershey’s decision to acquire Krave comes as snacking habits are changing. While snacking is still a common trend, what is snacked on has changed. Now people want more health benefits from snacks and this includes the protein that comes from jerky, San Jose Mercury News notes.

Krave is a premium jerky brand. It offers unique flavors such as Black Cherry Barbeque Pork Jerky and Basil Citrus Turkey Jerky. It’s unknown if Hershey will offer to cover its jerky in chocolate, reports Forbes.

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Article printed from InvestorPlace Media, https://investorplace.com/2015/01/hershey-krave-jerky-hsy/.

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