Sonoma Brands acquires protein snacks firm Krave

Sonoma Brands has completed the acquisition of protein snacking brand Krave Pure Foods from The Hershey Company.

The Sonoma-based growth equity firm is led by Jon Sebastiani, who himself founded Krave in 2009 before selling the brand to Hershey’s in 2015.

Since being established in 2016, the firm has invested in a range of consumer brands, including: Christina Tosi’s Milk Bar, Hu Products’ plant-based chocolate, and Guayakí Yerba Mate.

The firm says it expects its acquisition of Krave to accelerate innovation at the company. Krave’s portfolio of protein snacks includes Krave Meat Cuts, Krave Pork Rinds, and Krave Plant-Based Jerky, the brand’s most recent launch.

“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,” said Hector de la Barreda, president at Hershey’s-owned Amplify Snack Brands.

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

Sebastiani, Sonoma Brands’ founder and managing partner, added: “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.”

The financial terms of the transaction have not been disclosed.