Hershey boosts better-for-you candy portfolio with Lily’s acquisition

BOULDER — Lily’s Sweets LLC, a Boulder maker of low-sugar confections, has entered into an agreement to be acquired by The Hershey Co. (NYSE: HSY).

“Hershey is focused on developing a [better-for-you or BFY] confection portfolio that offers a variety of choices to meet the evolving needs of our consumers,” Hershey’s United States president Chuck Raup said in a prepared statement. “Lily’s is a great strategic complement to our existing offerings in this growing segment of the confection category.”

Lily’s makes Stevia-sweetened chocolate bars, peanut butter cups, baking chips and chocolate covered nuts. 

The deal, which will be financed with cash and short-term…