Hershey sells Krave jerky to incubator led by the brand's founder
Krave Jerky, which the Hershey Co. acquired in 2015, has been sold to its founder. The jerky brand was sold to Sonoma Brands, a private equity firm founded by Jon Sebastiani. According to Sonoma News, Sebastini, the founder of Krave, used the proceeds of the sale to Hershey to launch Sonoma Brands in the first place.
“It feels great to have it back because this is the brand that paved my way and changed my life,” Sebastiani said. “I owe my current reality to Krave and I look forward to returning it to its previous position of dominance in the healthy snack category.”
Sonoma Brands’ portfolio includes Smashmallow snackable marshmallows, Smashgummy low-sugar gummies and Peckish boiled eggs. Krave offers lines of jerky, pork rinds and plant-based jerky
Source: Sonoma News