Sonoma Brands acquires Krave from Hershey

Sonoma Brands, a private equity investor and incubator, has completed the acquisition of Krave, the artisanal jerky brand, from The Hershey Company for an undisclosed amount. Sonoma Brands is led by Jon Sebastiani, who initially launched Krave in 2009. The jerky brand was acquired by Hershey in 2015.

Following the sale of Krave, Sebastiani formed Sonoma Brands and went on to launch brands including Smashmallow snackable marshmallows, Smashgummy low-sugar gummies, and Peckish boiled eggs. As a private equity investor, Sonoma Brands has also made strategic investments to date in high-growth consumer brands, including Christina Tosi’s Milk Bar, Hu Products plant-based chocolate, Guayaki yerba mate, and more.

“I have always had a great relationship with The Hershey Company and watched them grow Krave,” said Sebastiani, managing partner of Sonoma Brands. “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.”