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Hershey to buy Canadian chocolate candy maker
December 9th, 2011
HERSHEY, Pa. – Hershey Co. plans to acquire Brookside Foods Ltd., a British Columbia-based confectionery manufacturer specializing in chocolate-covered fruit juice pieces.
Hershey said late Thursday that Brookside holds patents that allow it to make the centers of its chocolate-covered confections from real fruit juice. The Abbotsford, B.C., company also produces traditional chocolate-covered nuts and dried fruit.
"The acquisition of Brookside is an opportunity for Hershey to expand our portfolio in this category," Hershey president and chief executive officer John Bilbrey said in a statement. "Brookside pairs dark chocolate with exotic fruit-juice centers — such as goji, acai, blueberry and pomegranate — to create great-tasting treats while delivering the benefits of flavanols and antioxidants. We look forward to building Brookside by leveraging Hershey's scale at retail."
Brookside's products, made at two facilities in British Columbia and Quebec, are mainly sold in the United States and Canada in a take-home, resealable pack type, according to Hershey.
"We're pleased that a company of Hershey's stature and excellence appreciates Brookside's growth, brand equity and people, as well as the great taste and potential of the Brookside product line," stated Ken Shaver, president and CEO of Brookside Foods.
Terms of the agreement, which is subject to approval by regulators and Brookside shareholders, weren't disclosed. Hershey reported Brookside's annual sales at $85 million (Canadian).