Home Viral Media Spotlight 1

The $75.5 Million Question: 5 Shocking Facts About Hershey’s Acquisition Of Sour Strips

• minute read
Contents
The question of "how much did Hershey buy Sour Strips for" captivated the entrepreneurial and social media worlds, and the answer, officially confirmed in late 2024, is a staggering $75.5 million. This monumental figure represents a major victory for founder Maxx Chewning, a fitness YouTuber turned candy mogul, and signals a massive strategic shift for The Hershey Company as it seeks to dominate the next generation of snacking. The acquisition, which closed in November 2024, was far more than a simple transaction; it was a definitive statement on the power of creator-led brands and the lucrative nature of high-quality, niche confectionery. This deep dive uncovers the exact financial details, the explosive growth story of the Sour Strips brand, and the strategic rationale that led one of the world's largest chocolate manufacturers to shell out tens of millions for a sour candy company started by an influencer just five years prior.

Maxx Chewning: Biography & Entrepreneurial Profile

The story of the Sour Strips acquisition is inseparable from its founder, Maxx Chewning. Known for his charismatic presence in the fitness and powerlifting communities, Chewning successfully leveraged his social media following to launch a multi-million dollar consumer packaged goods (CPG) empire.
  • Full Name: Maxx Chewning
  • Date of Birth: September 9, 1989
  • Age (as of December 2025): 36
  • Nationality: American
  • Birthplace: Virginia, United States
  • Primary Career: YouTuber, Fitness Personality, Entrepreneur
  • Major Ventures: Sour Strips (Founder), Ever Forward Apparel (Founder & CEO)
  • YouTube Channel: Maxx Chewning (Focuses on fitness, powerlifting, and lifestyle)
  • Education: Bachelor's degree in Health & Physical Education
  • Acquisition Exit: Sold Sour Strips (Actual Candy, LLC) to The Hershey Company in November 2024 for $75.5 million.

The Exact Price Tag: $75.5 Million and the Deal Structure

The final, official price for the Sour Strips brand was disclosed in a financial filing by The Hershey Company: $75.5 million. This figure was paid to Actual Candy, LLC, the parent company of the Sour Strips brand, and the deal was finalized in November 2024.

1. The Confirmation from Hershey’s Financials

While the initial press release from Hershey in late 2024 kept the purchase price undisclosed, the specific number was later confirmed in the company's Form 10-K filing with the U.S. Securities and Exchange Commission (SEC). This level of transparency cemented the $75.5 million valuation in the public record, ending speculation about the size of the deal. The transaction also included potential "earn-outs," which are additional payments contingent on the brand meeting specific performance targets post-acquisition.

2. A Massive Return on Investment

The $75.5 million valuation is astonishing when considering the brand's humble beginnings. Maxx Chewning launched Sour Strips in 2019 with a personal investment of roughly $50,000. In just five short years, that initial seed money multiplied into a massive exit, demonstrating the explosive potential of direct-to-consumer (DTC) brands with a strong social media presence. The brand was reportedly pulling in annual sales volume of $18 million to $20 million before the acquisition, making the purchase price approximately 3.7 to 4.2 times its annual sales.

3. Sour Strips' Unique Selling Proposition (USP)

Sour Strips successfully carved out a highly profitable niche by focusing on two key elements: quality and community. The brand was built around the promise of a superior, intensely sour candy experience, addressing a gap in the market for high-quality sour products. Flavors like Tropical Mango, Green Apple, and Strawberry were highly sought after, often selling out within minutes of being restocked. The brand’s initial launch was a clear indicator of its future success, selling 20,000 units in the first hour alone.

The Creator Economy Blueprint: How Maxx Chewning Built a Multi-Million Dollar Brand

The success of Sour Strips is a case study in the power of the modern creator economy, where an influencer's personal brand can be directly monetized into a CPG powerhouse.

4. Leveraging the 'Chewning' Community

Maxx Chewning’s primary audience was initially built around his fitness content on YouTube and Instagram. He successfully bridged the gap between the health-conscious fitness world and the indulgence of high-quality candy. His marketing strategy involved:
  • Authenticity: Maxx frequently featured "cheat meals" and candy reviews in his videos, making the launch of his own candy brand feel organic and genuine to his followers.
  • Scarcity Model: Sour Strips initially operated on a limited-drop model, creating immense hype and urgency around product restocks. This strategy drove viral conversations and high conversion rates.
  • Social Media Dominance: The brand amassed over 400,000 followers across its platforms, turning its customer base into a loyal community of "sugar addicted candy lovers."
This direct relationship with consumers bypassed traditional marketing channels, allowing the brand to achieve high profit margins and rapid growth without relying on major retail distribution until later stages.

Hershey’s Strategic Play: Targeting Gen Z and Diversification

For The Hershey Company, the $75.5 million acquisition was not a whim; it was a calculated move to secure a stronger foothold in the rapidly evolving confectionery landscape.

5. Diversifying the Sweets Portfolio

The acquisition of Sour Strips aligns perfectly with Hershey’s broader strategy to diversify beyond its traditional chocolate core—brands like Hershey’s Kisses, Reese's, and Kit Kat. The company has been aggressively expanding its presence in the non-chocolate, salty snack, and better-for-you categories. Sour Strips immediately bolsters Hershey's position in the high-growth sour candy segment, which is particularly popular among Gen Z and Millennial consumers.

6. Capturing the DTC and Social Media Market

Hershey recognized that Sour Strips was more than just a candy; it was a proven, successful direct-to-consumer (DTC) operation with a powerful, built-in marketing machine. By acquiring Actual Candy, LLC, Hershey gains:
  • A Direct-to-Consumer Channel: A ready-made e-commerce infrastructure and a database of highly engaged, repeat customers.
  • A Modern Brand Voice: The ability to speak directly to a younger demographic through an authentic, influencer-created brand.
  • Innovation Pipeline: Access to a fast-moving, innovative product development cycle that Sour Strips used to launch new flavors and limited-edition drops quickly.
The $75.5 million investment is a long-term bet on the future of snacking, where brand loyalty is often built not through traditional advertising, but through the genuine connection created by social media personalities like Maxx Chewning. This deal solidifies the Creator Economy as a legitimate, multi-million dollar source of acquisition targets for major CPG corporations.
The $75.5 Million Question: 5 Shocking Facts About Hershey’s Acquisition of Sour Strips
how much did hershey buy sour strips for
how much did hershey buy sour strips for

Detail Author:

  • Name : Khalid Roberts
  • Username : kunde.devin
  • Email : marquardt.stanton@gmail.com
  • Birthdate : 1995-06-04
  • Address : 2165 Schneider Row West Sidhaven, KS 36086-5044
  • Phone : +1-503-239-6078
  • Company : Ritchie, Green and Smith
  • Job : Financial Manager
  • Bio : Voluptatibus voluptatem excepturi adipisci provident adipisci at. Eos nobis quis est in laudantium. Esse et laborum est itaque eligendi aut est. Et praesentium quasi quaerat.

Socials

twitter:

  • url : https://twitter.com/samir3315
  • username : samir3315
  • bio : Distinctio et rerum illo expedita asperiores sint. Error consequatur non doloribus laboriosam facilis. Necessitatibus similique natus velit cum.
  • followers : 2185
  • following : 2945

linkedin:

Random Posts