Sonoma Brands closes acquisition of KRAVE

US-based private equity firm Sonoma Brands has completed the acquisition of artisanal jerky brand KRAVE from The Hershey Company.

Financial details of the deal have not been revealed by either company.

Sonoma Brands founder and managing partner Jon Sebastiani said: “I have always had a great relationship with The Hershey Company and watched them grow KRAVE.

“From expanding KRAVE’s product offerings to dipping into the plant-based category and increasing worldwide distribution, KRAVE is in a great spot to come back home to Sonoma where we can continue the brand’s fantastic momentum as a category leader.”

Established in 2009, KRAVE is engaged in the production of gourmet meat, poultry and now plant-based protein snacks.

KRAVE claims that all its snack food products are made with quality ingredients and a proprietary process.

KRAVE was acquired by The Hershey Company in 2015.

The Hershey Company Amplify Snack Brands president Hector de la Barreda said: “KRAVE is a great brand with a loyal fanbase who appreciate its innovative gourmet flavours and culinary roots tracing back to its origins in Sonoma, California.

“We look forward to its success with a different go-to-market model under the guidance of founder Jon Sebastiani.”

Founded in 2016, Sonoma Brands has been focusing its investments on disruptive and high-growth consumer brands.

In addition to KRAVE, Sonoma Brands has made strategic investments in other consumer brands, including Christina Tosi’s acclaimed Milk Bar, Hum Nutrition vitamins and supplements, Beekeeper’s Naturals health solutions, and Hu Products plant-based chocolate.