LesserEvil acquired by The Hershey Company
The Hershey Company acquired LesserEvil, a US better for you snacks brand, on Apr 3, 2025.
Transaction summary
- Target
- LesserEvil
- Acquirer
- The Hershey Company
- Seller
- -
- Announced
- 2025-04-03
- Geography
- United States
- Tags
- Better For You SnacksConsumerFood & BeverageSnacks
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- -
- First added
- 2026-08-11
- Latest update
- 2026-08-11
Value and multiples
100% enterprise value
USD 815M
100% enterprise value | USD
Basis: Public source
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
EV / revenue
4.94x
Period: FY2024 2024
Basis: Estimated
EV / EBITDA
-
EBITDA basis not stated
Basis: Estimated
Amounts paid and other reported values
Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.
Total Consideration: USD 815M
Hershey's 2025 Form 10-K disclosed $815.2m of consideration at closing.
Basis
- USD 815m total consideration is treated as publicly disclosed or derived directly from public source data.
- Valuation covers 100% of the target; the amount invested or paid for a stake is separate.
- Implied EV / revenue is 4.94x, calculated from USD 815m value and USD 165m revenue.
- Revenue and multiple inputs are not fully disclosed in public transaction materials reviewed; treat the multiple as an estimate.
- $815.2m / reported $165m FY2024 revenue = 4.9406x.
Source summary
The Hershey Company Announces Intent to Acquire LesserEvil
ConfirmedThe Hershey Company Announces Intent to Acquire LesserEvil
Open sourceThe Hershey Company 2025 Form 10-K
Confirmedcompleted the acquisition of LesserEvil, LLC on November 18, 2025 for consideration of $815.2 million.
Open sourceHershey completed the acquisition of LesserEvil
ConfirmedLesserEvil generated a $165 million of revenue in 2024.
Open source