Hershey to acquire Pirate Brands from B&G Foods for $420 million
The Hershey Co. and B&G Foods Inc. have entered into a definitive agreement for Hershey to acquire Pirate Brands, including the Pirate’s Booty, Smart Puffs, and Original Tings brands, for $420 million.
The Hershey Co. and B&G Foods Inc. have entered into a definitive agreement for Hershey to acquire Pirate Brands, including the Pirate’s Booty, Smart Puffs, and Original Tings brands, for $420 million.
“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,” said Mary Beth West, Hershey’s chief growth officer.
Pirate Brands will operate within Amplify, Hershey’s better-for-you snacking hub in Austin, Texas, which is focused on driving growth in the warehouse snacking aisle with unique product flavors and forms like Skinny Pop, Paqui, and Oatmega.
The transaction is expected to close in the fourth quarter of 2018, subject to customary regulatory approvals and other closing conditions.