Vending

Hershey invests in plant-based startup to grow better-for-you category

Image courtesy of the Hershey Co.

February 18, 2021

The Hershey Co. is teaming up with ASR Group, a sweetener company, to co-lead an equity investment in Bonumose, Inc., a start-up company with innovations in plant-based food ingredients, including rare and natural sugars, as part of an effort to expand its better-for-you chocolate category, according to a press release.

The investment is part of Hershey's C7 Ventures, which enables new avenues for growth through capital investments in disruptive or emerging platforms focused on new occasions, technologies and go-to-market opportunities. This investment enables a research and development to advance the tastes of not only zero- and reduced-sugar chocolate, but also Hershey's better-for-you snack offerings going forward.

Hershey will expand its future portfolio to deliver more reduced sugar, organic and plant-based alternatives.

This long-term strategy includes:

• Continuing to offer portion-controlled treats in a variety of pack types.
• Extending core brands to BFY offerings and renovating existing products to extend choices.
• Developing sugar reduction capabilities and recipes that deliver great tastes and textures while meeting the changing needs of some snackers.
• Teaming up with top BFY brand partners to co-develop and launch new offerings.
• Evaluating acquisition opportunities to deliver incremental occasions and access for consumers that Hershey core brands don't reach today.