Hershey agrees to acquire Pirate Brands for $420mn

By Sean Galea-Pace
The US-based chocolate maker, Hershey, has announced it is set to purchase Pirate Brands from B&G Foodsfor $420mn in a cash deal which will see the...

The US-based chocolate maker, Hershey, has announced it is set to purchase Pirate Brands from B&G Foods for $420mn in a cash deal which will see the company take ownership of snack brands like Pirate’s Booty, Original Tings and Smart Puffs.

The deal is thought to be accretive of the company’s financial targets as Hershey looks to expand its interest in the $2.5bn cheese puffs market.

Mary Beth West, Chief Growth Officer of The Hershey Company, said: “Pirate’s Booty is a leading cheese puffs brand loved by moms and kids as a better-for-you treat.”

“We expect the full Pirate Brands portfolio to be a great fit for Hershey’s growing Amplify business which is targeted toward consumers who are looking for great-tasting snacks without compromise.

See more:

In a bid to diversify its business, Hershey has decided to increase its snack offering as more American consumers have chosen healthier options over chocolate.

Bob Cantwell, President and Chief Executive Officer of B&G Foods said: “Pirate Brands is a terrific business and we believe that it will thrive under the ownership of The Hershey Company.”

The agreement will see Pirate Brands operate within Hershey’s snack unit Amplify with the deal expected to close during the end of 2018.


Featured Articles

Manufacturing Digital LIVE: Alan Duncan, Blue Yonder

Blue Yonder’s Alan Duncan explores resilience and sustainability in the supply chain at Manufacturing Digital LIVE 2023

Manufacturing Digital LIVE: Helena Jochberger, CGI

Resilience, technology and decarbonisation - CGI’s Helena Jochberger discussed the future of manufacturing at Manufacturing Digital LIVE 2023

COP28: GMIS unites manufacturing sector for decarbonisation

The Global Manufacturing & Industrialisation Summit joins COP28, in what Managing Director, Namir Hourani, hopes will create ‘a sustainable future’

Panel round-up for Manufacturing Digital LIVE

Sustainability & ESG

Driving sustainable fashion supply chains with TrusTrace

Sustainability & ESG

The impact of 5G technology in the manufacturing industry