Hershey Purchases barkTHINS Amid Lagging Sales

Hershey’s is adding barkTHINS snacking chocolate in an effort to bolster its chocolate and candy product portfolio.

The Hershey Company on Tuesday announced its acquisition of barkTHINS owner Ripple Brand Collective for an undisclosed amount.

barkTHINS, which offers thin pieces of chocolate and nuts, fruit and other ingredients in re-sealable bags, grew quickly following its 2013 launch and expects to hit $65 million to $75 million in sales this year.

Ripple founder and CEO Scott Semel said that Hershey would provide "the next phase of accelerated growth" for the brand.

Hershey, meanwhile, cut its adjusted profit outlook for the full year on Tuesday after reporting strong profit numbers but weaker sales in the first quarter of the year.

Company officials said that current conditions were challenging due to increased consumer choice in snacking and a growing preference for natural ingredients and healthier options.

Hershey North America chief Michele Buck said that the barkTHINS purchase "addresses key consumer trends, such as premium, high-quality ingredients and snacking."

"barkTHINS is a very attractive and uniquely crafted brand that essentially created a new form of chocolate snacking," Buck said in a statement.