The Hershey Co. (Hershey, Pa.) has announced an agreement to acquire Scharffen Berger Chocolate Maker Inc. (Berkeley, Calif.), a premium dark chocolate manufacturer. The deal positions Hershey into the premium chocolate market.
Scharffen Berger, which owns and operates three specialty stores — in New York, Berkeley and San Francisco — is known for its high-cacao content, signature dark chocolate bars and baking products sold in specialty retailers, natural food stores and gourmet centers.
“The premium chocolate segment represents a strategic opportunity for Hershey based on increasing consumer demand for distinctive, high-end chocolate and for the antioxidant benefits of dark chocolate,” said Hershey chairman, president and ceo Richard Lenny. “Scharffen Berger’s exceptional, on-trend products and entrepreneurial spirit have made it one of the fastest-growing companies in the $1.7 billion premium chocolate segment. We look forward to leveraging our extensive distribution network and technology to broaden consumer reach and expand our leadership position in the confectionery market.”
“This is a tremendous opportunity for Scharffen Berger,” said co-founder John Scharffenberger. “With Hershey’s resources we can accelerate our growth and leadership in the premium chocolate segment. Hershey’s heritage, values and deep commitment to social responsibility are a perfect match for Scharffen Berger. The acquisition will enable us to preserve the artisanal roots that have made Scharffen Berger so successful, while introducing a wider range of consumers to our unsurpassed, high-quality dark chocolate.”