Site last updated: Wednesday, April 24, 2024

Log In

Reset Password
MENU
Butler County's great daily newspaper

Hershey dips into meat market with Krave Jerky purchase

NEW YORK — Hershey has a sudden hankering for protein, with plans to add jerky to its lineup.

The maker of sugar-high inducing treats like Reese’s, Kit Kat and Twizzlers says it’s buying Krave Jerky for an undisclosed sum. Krave, based in Sonoma, Calif., positions itself as a premium jerky with no artificial ingredients and comes in flavors like black cherry barbecue, basil citrus and lemon garlic.

Michele Buck, president of Hershey North America, said the company plans to continue expanding its offerings across the “snacking continuum” through acquisitions and in-house development.

While Hershey is already a strong player in sweet treats, the Krave deal is intended to give it a foothold in snacks people see as healthy fuel.

The push to expand beyond impulsive sweets comes as Americans’ addiction to snacking grows. Rather than sticking to three meals a day, people are increasingly grazing on smaller bites around the clock.

Last year, jerky sales in the U.S. totaled $1.41 billion, according IRI, a Chicago-based market researcher. That’s up 13 percent from 2013 and 22 percent from 2012.

Meanwhile, indulgent snacks like chocolates and cookies generally underperformed categories like trail mixes, nuts and meat snacks, noted J.P. Morgan analyst Ken Goldman.

More in Business

Subscribe to our Daily Newsletter

* indicates required
TODAY'S PHOTOS