Hershey Acquires Minority Stake In Fulfill
Published on Aug 19 2019 9:35 AM
Fulfil Holdings Limited, the owner of the snacking brand Fulfil has announced The Hershey Company has made a minority investment in the brand.
Headquartered in Dublin, the company said in a statement that since its inception in 2016, it now outsells many traditional chocolate snack bar brands in the UK and Ireland.
A Top 50 Consumer Brand
Fulfil landed in Checkout's Top 100 Brands issue at a highly respectable 68th place in 2017.
Last year, the brand pole-vaulted 19 places and secured the 49th position.
“This incredible success has come as a result of disrupting the traditional snacking market by delivering great-tasting bars with nutritional benefits—high protein, low sugar and essential vitamins,” Brian O’Sullivan, CEO of Fulfil Holdings said.
The protein bar maker said in a statement that the partnership with the US company will further propel its phenomenal growth and disruption of the snacking market across Europe and Australia.
In addition to the minority investment of Allied Irish Banks, p.l.c. in 2018, The Hershey Company investment is a key milestone in Fulfil’s business growth.
“Our objective is to deliver great-tasting, nutritional snacking products to consumers worldwide," O’Sullivan added.
"Over the last 18 months we have built a highly capable management team and have developed an aggressive expansion strategy based on a thorough understanding of our target consumer."
In 2017, Hershey announced its snacking powerhouse vision, expanding its snacking portfolio to include better-for-you snacks to complement its iconic confection brands.
The partnership will create opportunities in new occasions among new consumer segments and markets, the company said. .
Jefferies LLC reportedly acted as financial advisor to Fulfil Holdings Limited in connection with the transaction.
The Irish company was launched in 2016 and made sales of about €12 million in its first trading year, doubling the amount in the years after that.
Fulfil’s creators, Niall McGrath and Tom Gannon produced the first multivitamin bar to offer 100% of an adults recommended daily allowance of nine vitamins, to its consumers.
At the time, McGrath explained that Fulfil is "the ultimate convenient and tasty treat, without any of the residual guilt from a chocolate bar."
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