Tuesday, 23 October 2018

 

Hershey Co. is expanding further beyond chocolate, agreeing to buy the owner of Tyrrell’s potato chips and SkinnyPop popcorn for USD921m. 

Hershey and Amplify Snack Brands have announced that they have entered into a definitive agreement under which Hershey will acquire all outstanding shares of Amplify for USD12.00 per share in cash. 

"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," said Michele Buck, Hershey president and CEO. "Hershey's snack mix and meat snacks products, combined with Amplify's Skinny Pop, Tyrrells, Oatmega, Paqui and other international brands, will allow us to capture more consumer snacking occasions by creating a broader portfolio of brands."  

"This transaction is a continuation of our mission as Hershey also believes in bringing to consumers great-tasting snacks made with the best ingredients possible. Hershey is a great cultural partner for Amplify and I'm excited for our team who will have access to Hershey's marketing and go-to-market resources to take our brands to the next level," said Tom Ennis, Amplify Snack Brands president and CEO.

This strategic acquisition is expected to be accretive to Hershey's financial targets given the growth trajectory and margin structure of Amplify's key products. 

The transaction is expected to close in the first quarter of 2018. 

Related articles: 

Amplify Snack Completes the Acquisition of Tyrrells 

Amplify Snack Brands Buys UK Crisp Maker Tyrrells for GBP300m 

Tyrrells plans expansion in India 



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