Hershey Completes Acquisition of Dot's Pretzels and Pretzels Inc.

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Dec 14, 2021, 12:17 ET

HERSHEY, Pa., Dec. 14, 2021 /PRNewswire/ -- The Hershey Company (NYSE: HSY) today announced the completion of its acquisition of Dot's Pretzels, the owner of Dot's Homestyle Pretzels, and Pretzels Inc., a leading manufacturer of pretzels in the United States. The combined purchase price was $1.2 billion, or approximately $1 billion of investment net of expected future tax benefits, as previously announced.

The addition of Dot's Pretzels accelerates Hershey's snacking powerhouse vision by adding to its portfolio the fastest-growing scale U.S. pretzel brand, representing 55 percent of the pretzel category's growth during the past year.

Acquiring Pretzels Inc. also brings the pretzel manufacturing capability in-house to ensure the continued growth of Dot's and expertise to drive future snacking innovations.

As with other recent acquisitions, Hershey will take a phased approach to integrate the businesses in partnership with Dot's and Pretzels Inc.'s leadership teams as we focus on continued growth of both businesses.

More details are available on our Investor Relations site at: www.thehersheycompany.com.

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About The Hershey Company
The Hershey Company is headquartered in Hershey, Pa., and is an industry-leading snacks company known for bringing goodness to the world through its iconic brands, remarkable people and enduring commitment to help children succeed. Hershey has approximately 17,000 employees around the world who work every day to deliver delicious, quality products. The company has more than 90 brands around the world that drive more than $8.1 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.

For more than 125 years, Hershey has been committed to operating fairly, ethically and sustainably. Hershey founder, Milton Hershey, created the Milton Hershey School in 1909 and since then the company has focused on helping children succeed.
To learn more visit www.thehersheycompany.com

SOURCE The Hershey Company