Hershey has announced its acquisition of Amplify Snack Brands for $12 per share in cash worth $920 million. The purchase will broaden the chocolate giant’s offerings with Amplify’s calorie-conscious Skinny Pop popcorn, Tyrrells chips, and other snack brands. The deal is expected to close in the first quarter of 2018.
"The acquisition of Amplify and its product portfolio is an important step in our journey to becoming an innovative snacking powerhouse as together it will enable us to bring scale and category management capabilities to a key sub-segment of the warehouse snack aisle,” Hershey CEO Michele Buck said in a release.
In addition to the $920 million in cash, Hershey will assume net debt and make a tax payment of $76 million — valuing the merger at $1.6 billion. As more companies move toward better-for-you foods, the deal will allow Hershey to offer more “clean, simple, and transparent ingredients as well as unique flavor and forms.”
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