The Hershey Co. announced it has entered into a definitive agreement to acquire two manufacturing plants from Weaver Popcorn Manufacturing, co-manufacturer of Hershey's SkinnyPop brand. Through the deal, Hershey will acquire Weaver's operations in Bethlehem, Pa. and Whitestown, Ind.
The acquisition is designed to strengthen the company’s internal supply chain capabilities in combination with its suppliers and co-manufacturers.
These new facilities will enable expanded flexibility, agility and resiliency across its salty snacks supply chain network. A year ago, Hershey acquired Pretzels, Inc. to expand its salty snacks manufacturing capabilities.
"We continue to evolve our supply chain, making…investments in the size, scale and capabilities of our network," says Jason Reiman, chief supply chain officer, The Hershey Co.
Weaver is a vertically integrated popcorn business that operates three independent entities, including Weaver Popcorn Manufacturing.
The acquisition is subject to customary regulatory approvals and will be financed with cash on hand as well as short-term borrowings.