The Hershey Company (NYSE:HSY) is further expanding its position as a snacking category leader, announcing minority investments in emerging snacking businesses FULFIL Holdings Limited and Blue Stripes LLC.
C7 Ventures, Hershey’s venture model, provides the company with new avenues for growth through the deployment of small capital investments in disruptive or emerging platforms focused on new occasions, new technologies and new go-to-market opportunities.
“Successful companies evolve and engage consumers in new and different ways,” said Mary Beth West, chief growth officer. “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.”
FULFIL is a one of the leading makers of great tasting, vitamin fortified, high protein nutrition bars in the UK and Ireland. The partnership will create opportunities in new occasions among new consumer segments and markets.
Founded by Oded Brenner, a recognized innovator, cacao entrepreneur and creator of Max Brenner, a chocolate sensory immersion, Blue Stripes Cacao Shop enables further go-to-market opportunities by offering experiential retail that combines the goodness of cocoa with a unique customer experience.