The Hershey Company has confirmed the sale of its Mauna Loa brand of flavoured and chocolate-covered macadamia nuts.
Honolulu-based confectionery company Hawaiian Host, which already produces a range of macadamia products, has agreed to acquire the brand from the region’s largest chocolate company. Mauna Loa and Hawaiian Host’s existing product line will continue to operate as separate brands.
The agreement also covers Mauna Loa’s macadamia harvesting function including a 136-acre facility near Hilo, on the island of Hawaii, which is estimated to have a seasonal capacity of 40m pounds of macadmia nuts. The transaction, which is expected to be completed in this quarter, represents the first time that The Mauna Loa Corporation has changed ownership, following its acquisition by Hershey’s in 2004.
Keith Sakamoto, president and CEO of Hawaiian Host, said: “This acquisition will create a great opportunity for both companies, our employees and the community. It brings Mauna Loa back under Hawaii ownership, joins together two strong, local brands, and lays the foundation for continued success.”
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