Hershey acquires ONE Brands & announces snack bar portfolio expansion
Date: 2019-08-29   Author: Pankaj Singh  Category: #news

Hershey acquires ONE Brands & announces snack bar portfolio expansion

  • ONE Brands is being purchased for $397 Mn or approx. $325 Mn net of tax benefits.
     
  • ONE Brands would greatly compliment Hershey’s current Oatmega business, which was procured as a part of Amplify Snack Brands Inc., acquisition in 2018.

The Hershey Company, one of the largest chocolate producers in the world based in US, reportedly announced the acquisition of ONE Brands, manufacturer of high-protein snack bars, to consolidate its position as a leader in snacks.

Hershey’s Chief Growth Officer, Mary Beth West stated that ONE’s portfolio of good tasting nutrition bars, with various flavors like Peanut Butter Pie, Birthday Cake and Maple Glazed Doughnut, would be a great strategic fit in the company’s entire innovative snaking powerhouse strategy.

Mary added that the company’s confection brands will still be the core that drives the company’s business during the portfolio broadening of its better-for-you offerings, giving more snacking options for more customers.

Founder of ONE Brands, LLC, Ron McAfee stated that the company takes pride in the brand they have built and are now looking forward to continue building on its momentum with capabilities and strength provided by Hershey.

CEO of ONE Brands, LLC, Peter Burns stated that the company’s team, brand equity and customer proposition provides it confidence, particularly when united with a leading company like Hershey.

The procurement is expected to allow Hershey to give a better offering of brands in nutrition bar category. ONE Brands would greatly compliment Hershey’s current Oatmega business, which was procured as a part of Amplify Snack Brands Inc., acquisition in 2018 and the company’s recent funding in FULFIL Holdings Ltd., Europe based organization and a leader in high-protein bars across Europe.

ONE Brands is being purchased for $397 Mn or approx. $325 Mn net of tax benefits. The transaction might close by fourth quarter of this year and is subject to closing conditions and customary regulatory approvals.    

 

Source Credit: https://www.globenewswire.com/news-release/2019/08/27/1907421/0/en/Hershey-Announces-Expansion-of-Snack-Bar-Portfolio.html



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Pankaj Singh

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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