The Hershey Company announced this week that it is on track to acquire the better for you (BFY) confectionery brand Lily's.
Lily's, which produces low-sugar products such as dark and milk chocolate bars, baking chips, and peanut butter cups will add to Hershey's BFY confectionery portfolio.
"Hershey is focused on developing a BFY confection portfolio that offers a variety of choices to meet the evolving needs of our consumers," said Chuck Raup, President U.S.
Based Boulder, Colo., Lily's was launched in 2012 when co-founder Cynthia Tice introduced four Lily's chocolate style bars nationally in Whole Foods Market. According to the announcement, the acquisition will be financed with cash on hand as well as short-term borrowings.
