Hershey to sell Mauna Loa

Hershey will sell its Mauna Loa Macadamia Nut plant to PLK Partners, the company said. Terms of the sale to PLK Partners, a group of Hawaiian investors, were not announced. The sale should be completed before year s end, Hershey spokesman Kirk Saville said.
Hershey bought Mauna Loa, which bills itself as the world s largest processor of macadamia nuts, in 2004 from Shansby Group, a private equity venture. Macadamia nut prices plummeted by 50 percent over the past two years.