“Have meals through out the day” is what many dieticians suggest. But looking at the market research and survwy done by many professionals, you can witness the love for crunch and snaks that people poasess. This is applicable especially to the young population who are always ready to try to product launched and are more into enjoying with friends over a small round of snaks and munchies rather than meals.
Big consumer food providing companies are not ignoring this growing trend and hence are expanding their business in this segment.
The Hershey Company and Campbell Soup have signed deals with their rival firms.
Hershey has bought Amplify for $1.6bn. With this purchase, Amplify’s two biggest busineeses of popcorn and Tyrrells crisps will come under Hershey.
Meanwhile, Campbell Soup has bought Snyder’s-Lance in a deal worth $4.89bn. Snyder’s-Lance is known for its tortilla chip and pretzel crisps.
Both the deals reflect how US firms are trying to cope with changing buying habbits of people who are prefering smaller brands offering healthier food over big brand names.
Both Campbell Soup chief executive Denise Morrison and Hershey chief executive Michele Buck expressed their pleasure for the deal and how the deals made them would boost their market share by capturing more consumer snacking occasions.