Hershey Co (HSY) Will Buy Amplify Snack Brands For About $1.6 Billion

Hershey Co (HSY) Will Buy Amplify Snack Brands For About $1.6 Billion

Hershey agreed to buy popcorn maker Amplify Snack Brands for about $921 million in a deal that's expected to close in the first quarter of 2018.

Hershey is paying $1.6 billion for Amplify, which was founded in 2014 and had revenue in 2016 of about $271 million.

Amplify makes popular and health-focused snack brands like Skinny Pop popcorn, Tyrell's potato chips, Paqui tortilla chips, and more. (NYSE:BETR) both saw stocks gain ground - climbing an elevator in the latter case, after cementing their definitive agreement under which Hershey will acquire all outstanding shares of Amplify for $12.00 per share in cash.

The Hershey-Amplify deal highlights changing consumer habits as more people are opting for more natural foods and ingredients, prompting food and beverage companies to invest in more better-for-you snacks.


Hershey Chief Executive Officer Michele Buck called the transaction "an important step in our journey to becoming an innovative snacking powerhouse".

The company expects SkinnyPop, Amplify's most visible product, will prove an especially profitable piece of the acquisition. According to industry analysts, EPS (earnings per share) has resulted in ten percent increase in 2017 for Hershey's, evaluating the overall earnings per share equal to United States dollars 24 billion.

The planned acquisition comes as Hershey looks to diversify its offerings beyond the chocolate bars and other candies that have long defined the brand. Industry analysts are of the opinion that the market value of the former's outstanding shares is priced at Dollars 537 million, while its overall debt till September 2017 was estimated at USD 590.5 million.

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