NEW YORK (CNN/Money) -
Hershey Foods Corp. Monday said it has agreed to sell a group of its non-chocolate candy brands to Farley's & Sathers Candy Co.
The leading American candy manufacturer said the transaction would allow the company to better focus on its large confectionery brands and would have no material impact on its revenue or ongoing earnings per share.
Financial terms of the agreement were not disclosed.
Included in the transaction are Hershey's Heide, Jujyfruits, Wunderbeans, Amazin' Fruit and Chuckles product lines.
Farley's & Sathers is owned by private investment firm Catterton Partners, which purchased the confectionery business from Kraft Foods Inc. (KFT: Research, Estimates) earlier this year.
Keith Lively, Farley's & Sathers' CEO, said the product lines his company is buying will benefit from more focused sales and marketing attention.
"We will work to enhance the distribution and renew the sales efforts behind these brands alongside the existing Farley's & Sathers brands," Lively said in a statement.
Shares of Hershey (HSY: Research, Estimates) fell 2 cents to $68.42 on the New York Stock Exchange ahead of Monday's announcement, which was made after the closing bell.