Deals
Campbell, Hershey Bet That Salty Snacks Will Reignite Sales
- Soup giant snaps up Snyder’s-Lance; Hershey to buy SkinnyPop
- The two companies’ core businesses have been languishing
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In a packaged-food industry suffering from weak demand and shifting consumer tastes, there’s still one safe bet: salty snacks.
Potato chips, popcorn and other savory fare have remained strong sellers, even as other categories languish. And that’s driving companies’ M&A strategies: Campbell Soup Co. and Hershey Co. both announced deals on Monday that give them well-known savory brands.