The Hershey Company closed its acquisition of LesserEvil on November 19, 2025, paying approximately $750 million in cash and stock for the maker of organic popcorn and puffed snack products. The transaction adds a high‑growth, better‑for‑you brand to Hershey’s expanding salty‑snack lineup, which already includes SkinnyPop, Dot’s Homestyle Pretzels and Pirate’s Booty.
LesserEvil, which generated $165 million in revenue in 2024, specializes in organic, non‑GMO popcorn and puffs made with premium ingredients. The brand’s focus on clean labeling and bold flavors aligns with Hershey’s goal of becoming a “snacking powerhouse” and positions the company to capture a larger share of the growing organic snack market, which is driven by younger, health‑conscious consumers.
Hershey’s current snack portfolio has grown to represent about 10 % of total revenue, and the company has set a long‑term target of doubling that contribution to 20 % over the next decade. The acquisition of LesserEvil provides additional manufacturing capacity and a proven distribution network, allowing Hershey to scale its better‑for‑you offerings and accelerate growth in the salty‑snack segment.
In its most recent earnings, Hershey reported consolidated net sales of $3.18 billion, up 6.5 % year‑over‑year, while net income fell 38.2 % to $276.3 million. The decline was largely driven by higher commodity and tariff costs and an unfavorable product mix, which compressed operating margins from 13.7 % to 13.7 % year‑over‑year. The company’s management highlighted that the acquisition will help offset these headwinds by diversifying revenue sources and leveraging cost efficiencies in production and distribution.
CEO Kirk Tanner emphasized that the addition of LesserEvil “expands our portfolio of loved brands to meet growing consumer needs and occasions.” He added that the move supports Hershey’s broader strategy of expanding beyond traditional chocolate into new flavor and ingredient spaces, while also strengthening its position in the better‑for‑you snack category.
The deal signals Hershey’s continued commitment to transforming its business model. By integrating LesserEvil’s organic snack platform, Hershey aims to capture a larger share of the high‑growth health‑conscious segment, improve margin resilience through scale, and accelerate the company’s goal of making salty snacks a 20 % contributor to revenue over the next decade.
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