HERSHEY, Pa. —The Hershey Co. has announced minority investments in two emerging snack businesses: Fulfil Holdings Ltd. and Blue Stripes LLC.
The company said it expects the move, made through Hershey’s venture capital enterprise C7 Ventures, to create opportunities among new consumer segments and markets.
Dublin-based Fulfil is a maker of vitamin-fortified, high-protein nutrition bars in the United Kingdom and Ireland. New York-based Blue Stripes Cacao Shop was founded by cacao entrepreneur Oded Brenner, creator of Max Brenner, a chocolate-focused restaurant and retail brand.
“Successful companies evolve and engage consumers in new and different ways,” said Mary Beth West, chief growth officer for Hershey. “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, Pa.-based Hershey Co. has more than $7.8 billion in annual revenues with its more than 80 brands, including Hershey’s, Reese’s, Kit Kat, Jolly Rancher, Ice Breakers, SkinnyPop and Pirate’s Booty.