The Hershey Co. is expanding its position in the snacking category, making minority investments in emerging businesses Fulfil Holdings Ltd. and Blue Stripes LLC.
Fulfil is a maker of vitamin-fortified, high-protein nutrition bars in the U.K. and Ireland. Founded by Oded Brenner, a cacao entrepreneur and creator of Max Brenner, a chocolate sensory immersion, Blue Stripes Cacao Shop offers “experiential retail that combines the goodness of cocoa with a unique customer experience.”
C7 Ventures, Hershey’s venture model, provides the company with new avenues for growth through the deployment of small capital investments in disruptive or emerging platforms focused on new occasions, new technologies and new go-to-market opportunities.
“Successful companies evolve and engage consumers in new and different ways,” says Mary Beth West, chief growth officer for Hershey, Pennsylvania-based Hershey Co., which is celebrating its 125th anniversary this year. “As we continue to expand our snacking portfolio, our innovation agenda takes a balanced approach across investing in core brands and experimenting with new business models. This includes creating new platforms through R&D, strategic acquisitions and investments in businesses that are sitting at the cross-section of new consumer snacking needs.”
Hershey has approximately 16,500 employees around the world and more than 80 brands that drive more than $7.8 billion in annual revenues, including such iconic brand names as Hershey’s, Reese’s, Kit Kat, Jolly Rancher, Ice Breakers, SkinnyPop and Pirate’s Booty.
