Growing CT healthy food snacks maker to be acquired by Hershey Co.; deal valued at $750M

Pennsylvania-based The Hershey Co. announced Thursday that it has struck a deal to purchase growing Danbury-based organics snack foods maker LesserEvil.

Terms of the deal weren’t released, but the Wall Street Journal reported it’s valued at roughly $750 million. 

Hershey, which is publicly traded, said LesserEvil will further expand its snacking portfolio across its candy brands like Hershey’s, Reese’s and Jolly Ranchers and emerging salty snack brands including SkinnyPop, Dot’s Homestyle Pretzels and Pirate’s Booty.

“Investing in LesserEvil brings a multi-category, better-for-you snacks platform to extend our offerings into new categories and forms, reaching new consumers in more eating occasions,” said Michele Buck, Hershey Co.’s president and CEO. “This high-growth brand not only complements our beloved confection and salty snack brands but also brings additional manufacturing capabilities and capacity to meet growing consumer and retailer needs.”

Charles Coristine, a former Wall Street executive, bought LesserEvil in 2011, when it was generating about $800,000 a year in revenue and losing money.

Since then, LesserEvil has become one of the country’s largest organic snack foods producers. In a 2023 interview, Coristine told the Hartford Business Journal his company was on track to exceed $100 million in revenue. That same year, it debuted a new manufacturing facility in New Milford.

More recently, HBJ reported in January that LesserEvil signed a 303,100-square-foot lease in a newly constructed manufacturing center in Brewster, New York.

LesserEvil offers a healthy alternative to unhealthy behaviors like snacking on fried potato chips.

Its products include a flagship organic popcorn with coconut oil, and other innovative creations, like Space Balls (air-puffed, whole grain organic corn balls with avocado oil and Himalayan salt) and Cosmic Rings (whole grain organic corn tossed in avocado oil and organic seasoning).

Hershey said its pending deal remains subject to regulatory approval with anticipated closing later this year.