HONOLULU (HawaiiNewsNow) - Hawaiian Host announced Tuesday that the company has entered into an agreement with The Hershey Company to acquire the Mauna Loa Macadamia Nut Corporation.
When the acquisition is completed, Mauna Loa will join Hawaiian Host as a subsidiary. Both companies will continue operating as two distinct, separate brands.
"This acquisition will create a great opportunity for both companies, our employees and the community. It brings Mauna Loa back under Hawai'i ownership, joins together two strong, local brands, and lays the foundation for continued success," said Keith Sakamoto, president and chief executive officer of Hawaiian Host.
Mauna Loa is one of the largest and most experienced macadamia nut processors in the world with the seasonal capacity to process approximately 40 million pounds of macadamias. They also produce chocolate covered macadamias and flavored macadamia nut products that are distributed locally, nationally and internationally. In 2004, The Hershey Company acquired Mauna Loa.
"We are excited to welcome Mauna Loa's outstanding employees to the Hawaiian Host family. Both companies have a long history of operating in Hawai'i and sharing our products with the world. And we remain committed to continuing to offer the same quality products our customers have grown to know and expect," added Sakamoto.
The acquisition is expected to be finalized in the first quarter of 2015. There are no immediate staff changes planned and details of the acquisition will not be released.