The Hershey Company has announced the completion of its acquisition of Dot's Pretzels, the owner of Dot's Homestyle Pretzels, and Pretzels Inc., a manufacturer of pretzels in the United States. The combined purchase price was $1.2 billion, or approximately $1 billion of investment net of expected future tax benefits, as previously announced.

The addition of Dot's Pretzels accelerates Hershey's snacking powerhouse vision by adding the fastest-growing scale U.S. pretzel brand to its portfolio, representing 55 percent of the pretzel category's growth during the past year. 

Acquiring Pretzels Inc. also brings the pretzel manufacturing capability in-house to ensure the continued growth of Dot's and expertise to drive future snacking innovations.  

As with other recent acquisitions, Hershey will take a phased approach to integrate the businesses in partnership with Dot's and Pretzels Inc.'s leadership teams as we focus on continued growth of both businesses. 

More details are available on Hershey's Investor Relations site at www.thehersheycompany.com.