Photo: Shutterstock

From M&A deals to the freeze-dried candy craze, here are some of the top convenience store category headlines throughout 2024.

Mars agrees to acquire Kellanova and other M&A deals

Global food, snack and candy maker Mars Inc. and Kellanova announced in August that they had reached an agreement under which Mars agreed to acquire Kellanova for $83.50 per share in cash, for a total of $35. 9 billion dollars.

Once the transaction is finalized, Kellanova will become part of Mars Snacking and will be led by Global President Andrew Clarke. Mars, based in McLean, Virginia, is a global leader in pet care, snacks and food. Kellanova, based in Chicago, is a leading international snacks, cereal and noodle company; North American Plant-Based Foods; and frozen breakfast foods. It is home to snacking brands such as Pringles, Cheez-It, Pop-Tarts, Rice Krispies Treats, NutriGrain and RXBAR, as well as food brands such as Kellogg’s international, Eggo and MorningStar Farms.

In other news on acquiring snacks and candy in 2024:

The JM Smucker Co., of Orrville, Ohio, has entered into an agreement a final agreement to sell its Voortman cookie brand to Second Nature Brands, an American creator of premium snacks and treats controlled by CapVest Partners LLP. PepsiCo Inc. enters into definitive agreement acquire Garza Food Ventures LLCdoing business as Siete Foods, for $1.2 billion. The Hershey Company. acquisition of a sour candy brand Acid strips. And J&J Snack Foods Corp. acquired Hoboken, New Jersey-based Thinsters, a better for you cookie brand owned by Hain Celestial Group, a global health and wellness company.

Cultivation of freeze-dried candies without chocolate

About 90% of consumers say they buy chocolate when they treat themselves, according to the National Confectioners Association (NCA). Treatment Status Report 2024. And while chocolate sales grew 5.8% in 2024, non-chocolate candies grew 12.1% and gum/mints grew 15.4%, according to the report.

What has also grown this year in non-chocolate candies are freeze-dried candies, as seen at the Sweets & Snacks Expo and the NACS Show. Freeze-dried candies have seen a surge in popularity due to their meteoric rise on TikTok and other social media platforms. Brands include Space Age Snacks, TrendyTreats, Sow Good Inc. and Mars has even gotten into the game with freeze-dried Skittles.

Freeze-dried candy absorbs all the moisture from the candy, creating a puffy candy and providing more flavor, said Enzo Prina, founder of Space Age Snacks. CSP Daily News.

Hershey Redesigns

The candy and snack company Mondelēz International Inc. is explore a chocolatier acquisition Hershey Co. in a potential deal that would create a food giant with combined sales of nearly $50 billion, people familiar with the matter said. Bloomberg.

Hershey’s largest majority owner, The Hershey Trust, rejected Mondelēz International’s preliminary buyout offer as too weak, Bloomberg reported, citing people familiar with the matter. The trust holds about 80% of the company’s voting rights, the report said.

Hershey is also undergoing leadership changes.

Michele Buckpresident and CEO of chocolate maker Hershey Co., will assume leadership of the U.S. confectionery sector as Michael Del Pozzo leaves the role on December 12 after three months of work.

Del Pozzo returns to PepsiCo in a new leadership role where he worked before joining Hershey. His career at PepsiCo.

As the company seeks to identify a new leader for its U.S. confectionery business from a selection of internal and external candidates, Buck will lead the company through its next phase of growth and advance Hershey’s vision in leadership in snacking, the company said.

Inflation hurts the downtown store

Dollar sales are up in the convenience center store, but don’t let the numbers fool you.

Convenience center store sales ‘not so hot when it comes to unit sales’ Don Burkesenior vice president of Management Science Associates Inc., Pittsburgh, said Sept. 9 at CSP Inaugural Center Stores Forum in Schaumburg, Illinois.

Quick-service restaurants (QSRs) are “stealing a lot of convenience in terms of meal value,” Burke said. “Consumers are really budget conscious and looking for that extra edge in what they buy.”

Overall, central store unit volume declined by 7% between June 2023 and June 2024. Over the past 14 months, figures were at their worst in January and February of this year, when volume was down 9 percent, Burke said at the forum.

Also on the center store forumretailers spoke about how price increases were hurting the category.

“I’m really concerned about the price increases,” said Chris Long, director of category management at the Greater Houston Retailers Cooperative Association. “I think it’s absolutely ridiculous to see Tostitos for $7.99. They have gone from being “necessary” to “nice to have”. At my house we don’t even buy chips unless they’re on sale.

Some customers can no longer afford products like this, he said, adding, “It’s one of the things that’s killing central stores.”

Another challenge, and one of the most consistent complaints he’s heard in his 10 years in retail, is inconsistent service levels in the central store. “It’s beyond frustrating. “This guy didn’t come” or whatever. It really hurts the little guys who don’t do a lot of volume,” he said.

Click here to learn more about the Center Store Forum, taking place September 8-10, 2025 in Lombard, Illinois.

Would you like to know more about the center store category? Enroll or sponsor CSP’s Convenience Retail University here.

Members help make our journalism possible. Become a CSP member today and receive exclusive benefits, including unlimited access to all our content. Register here.