Hershey dives into sour candy with Sour Strips acquisition

In a bold move to strengthen its candy offerings, The Hershey Company (NYSE: HSY) has announced its acquisition of Sour Strips, a burgeoning sour candy brand that has garnered a substantial following on social media. Known for its tagline, “sour candy that doesn’t suck,” Sour Strips introduces Hershey to a broader consumer base with a unique product tailored for diverse snacking moments. This acquisition marks a strategic addition to Hershey’s portfolio, positioning it to attract younger and social-media-savvy candy lovers.

Sour Strips was launched in 2019 by Maxx Chewning, a social media influencer who sought to shake up the sour candy market. By blending intensely sour flavors with eye-catching branding, Sour Strips quickly captured the attention of consumers and carved a niche in the competitive candy industry. Chewning will continue to lead Sour Strips’ marketing and innovation efforts, ensuring the brand retains its distinctive voice and appeal under the Hershey umbrella.

Mike Del Pozzo, President of U.S. Confection at Hershey, expressed excitement about the acquisition, emphasizing that Sour Strips enhances Hershey’s growing sweets portfolio. Del Pozzo noted that Sour Strips has already built a passionate following, and Hershey is thrilled to leverage the brand’s existing momentum to fuel growth in the sweets sector. “We’re energized to welcome Maxx and the Sour Strips team to Hershey as we relentlessly accelerate our growth in sweets,” he shared.

Maxx Chewning, Founder of Sour Strips, highlighted the potential of this partnership to elevate his brand to new heights. Chewning conveyed that Hershey’s global success and ability to scale iconic brands perfectly align with his vision for Sour Strips. “Together with Hershey, our team is excited to continue delivering extraordinary experiences to candy enthusiasts around the globe,” he remarked.

The acquisition of Sour Strips aligns with Hershey’s strategy to tap into niche markets and diversify its product range. Sour Strips’ appeal to a younger demographic and its robust social media presence provide Hershey with valuable insights into the fast-evolving tastes of Gen Z consumers. By integrating Sour Strips into its portfolio, Hershey positions itself to benefit from shifting consumer preferences that lean toward bolder, more intense flavors and engaging brand experiences.

This acquisition is one of many recent moves by Hershey to expand beyond its traditional chocolate offerings and capture a wider segment of the confectionery market. With an established presence in the sweets industry and Sour Strips’ creative edge, the partnership is expected to foster a new era of growth and innovation for Hershey, especially within the sour candy segment.

Experts in the confectionery industry view this acquisition as a calculated step by Hershey to capitalize on a booming sour candy market, which has been rapidly expanding thanks to demand from younger consumers. Analysts highlight that younger demographics have shown a clear preference for flavors that offer intense experiences, with sour candies rising in popularity over the last few years. By bringing Sour Strips into its portfolio, Hershey gains an immediate foothold in this sector with a brand that resonates deeply with Gen Z and millennial audiences, enhancing its product lineup and consumer outreach. Hershey’s decision also illustrates a broader trend of established corporations acquiring smaller, dynamic brands to capture niche markets and expand through established fanbases.