Hawaiian Host, US-based producers of Hawaiian chocolate covered macadamia nuts, has agreed to acquire Mauna Loa Macadamia Nut from The Hershey Company.
An agreement to this effect was signed by Hawaiian Host and Hershey, reports Pacific Business News.
The financial terms of the transaction were not disclosed.
Upon completion of transaction in the first quarter, Hawaiian Host and Mauna Loa Macadamia Nut will continue to operate as separate brands.
Commenting on the acquisition, Hawaiian Host president and CEO Keith Sakamoto 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."
Hawaiian Host produces and sells chocolate products. The company offers chocolate covered macadamia nuts, chocolate candies, cookies, and coffee.
