Hershey To Acquire Dot’s Homestyle Pretzels, Pretzels Inc. In $1.2B Deal

Hershey, PA — The Hershey Co. has entered into definitive agreements to acquire Dot’s Pretzels LLC and Pretzels Inc. for a combined $1.2 billion.

“As the fastest growing U.S. pretzel brand, Dot’s Pretzels would further accelerate our success in the permissible salty snack category, along with our successful SkinnyPop and Pirate’s Booty brands,” says Michele Buck, Hershey president and CEO. “Dot’s Pretzels stand apart from all other products in the pretzel category and represents 55 percent of the pretzel category’s growth during the past year.”

The brand was developed more than a decade ago by Dot Henke. “I created my pretzels to share with those people closest to me and have built the business with the idea of sharing them with everyone,” says Henke. “With Hershey behind this amazing brand, I am confident that anyone who would like to enjoy these deliciously bold pretzels will have the opportunity.”

Pretzels Inc. is being purchased from private equity firm Peak Rock Capital. Pretzels Inc. is a co-manufacturer of Dot’s Pretzels and several other brands. Based in Bluffton, IN, The company operates three manufacturing locations in Indiana and Kansas. When the transactions are completed, these three manufacturing locations would be in addition to four pretzel-seasoning facilities to be acquired with Dot’s, the company says.

“Pretzels Inc. will help us expand Hershey’s snacking and production capabilities while keeping the special connection to Dot’s,” adds Buck. “It will be important as we continue to grow this already fast-growing brand and create new products in the broader pretzel category.”

The acquisitions are subject to customary regulatory approvals and are expected to close by the end of 2021.