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.

Share

Featured Articles

How technology has improved Health & Safety in manufacturing

Johann Cilliers, Group Marketing Director at Welding Alloys, explains how technology has improved Health & Safety in the manufacturing industry

Nick Dinges, Replique CTO, explores additive manufacturing

Replique’s CTO Nick Dinges shares his knowledge on 3D printing, how localised production can help supply chains & what the manufacturing sector wants

Hanwha to spend US$2.5bn on US solar manufacturing

South Korean chemical manufacturer Hanwha will spend US$2.5bn on US solar manufacturing at Georgia plant, in a new renewable energy push

Hexagon invests in Divergent Technologies digital factories

Digital Factory

India’s smart manufacturing electric vehicle future

Smart Manufacturing

Manufacturing a legacy of safety, sustainability, and skill

Procurement & Supply Chain