HONOLULU -- Hawaiian Host Inc. has announced that it has entered into an agreement with The Hershey Co. to acquire the Mauna Loa Macadamia Nut Corp.
Hawaiian Host is one of Hawaii's leading brands and the originator of chocolate-covered macadamias with its history dating back to 1927, it said. When the acquisition is completed, Mauna Loa will join Hawaiian Host as a subsidiary.
Both companies will continue operating as separate brands.
"This acquisition will create a great opportunity for both companies, our employees and the community. It brings Mauna Loa back under Hawaii ownership, joins together two strong, local brands, and lays the foundation for continued success," said Keith Sakamoto, president and CEO of Hawaiian Host, Honolulu. "We are excited to welcome Mauna Loa's outstanding employees to the Hawaiian Host family. Both companies have a long history of operating in Hawaii and sharing our products with the world. And we remain committed to continuing to offer the same quality products our customers have grown to know and expect."
In 1946, Mauna Loa planted its very first macadamia nut trees near Kea'au, just south of Hilo, where its facilities and visitor center are currently located on 136 acres of land. Mauna Loa is one of the largest and most experienced macadamia nut processors in the world, with the seasonal capacity to process approximately 40 million pounds of macadamias. It also produces chocolate-covered macadamias and flavored macadamia nut products that are distributed both locally, nationally and internationally.
Hershey acquired Mauna Loa in 2004.
Hawaiian Host said it is not planning any immediate staff changes.
"Both Hawaiian Host and Mauna Loa have a long history of supporting our local growers and farmers as well as our community. And with our more than 300 employees in Hawaii, we will continue that legacy together," said Sakamoto.
The companies expect to finalize the acquisition in the first quarter of 2015. They did not release details of the acquisition.
Hershey, with headquarters in Hershey, Pa., is a global confectionery leader offering chocolate, sweets, mints and other great-tasting snacks. The company, which has more than 80 brands around the world that drive more than $7.1 billion in annual revenues, includes such iconic brand names as Hershey's, Reese's, Hershey's Kisses, Twizzlers and Ice Breakers.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.