Hershey's buys Dot's Pretzels for $1.2 billion

(dots pretzels)

The Hershey Company announced it has entered into a definitive agreement to acquire Dot's Pretzels LLC, the owner of Dot's Homestyle Pretzels, for $1.2 billion Wednesday.

The company wrote in a press release that North Dakota-based Dot's Pretzels are "a perfect complement to Hershey's growing salty snacking portfolio and would create an opportunity to reach new consumers in new occasions, advancing Hershey's snacking powerhouse vision."

According to The Hershey Company President and CEO Michele Buck, Dot's Pretzels represents 55 percent of the pretzel category's growth during the past year.

For more information on the agreement, click here.