hershey acquires amplify

Many of these forward-looking statements can be identified by the use of words such as intend, believe, expect, anticipate, should, planned, projected, estimated, and potential, among others. of Amplify. The Hershey Co. has entered into a definitive agreement to acquire nutrition bar maker One Brands, L.L.C. Meanwhile, the primary benefit to Hershey from Amplify will likely be faster growth, Feeney said Monday, 18 December 2017 12:08 PM EST. Hershey President and CEO Michele Buck said the acquisition is an important step in its "journey to becoming an innovative snacking powerhouse." "Hershey's snack mix and meat snacks products, combined with Amplify's Skinny Pop, Tyrrells, Oatmega, Paqui and other international brands, will allow us to capture more consumer snacking occasions . The Company's most targeted sectors include food (100%). Hershey has, like many of its peers, for years sought to dip into the category through a series of small acquisitions. All information in this press release is as of December 18, 2017. AUSTIN, TEXAS Amplify Snack Brands, a subsidiary of The Hershey Co., is adding new product lines to its Pirate's Booty and SkinnyPop brands. Both varieties provide -cup of vegetables per serving and are certified gluten-free and Non-GMO Project verified. HERSHEY, Pa. and AUSTIN, Texas The Hershey Co. has entered into a definitive agreement to acquire Amplify Snack Brands Inc. for $1.6 billion. Client Id: 77. The sweetsmaker, which has focused on the term "snackfection" a blurring of the line between sweet and salty snacks recently launched Hershey's and Reese's popped snack mix and chocolate dipped pretzels. She added: "It will enable . The U.S. candy giant Hershey announced it will acquire Austin, Texas-based Amplify Snack Brands, Inc. for $1.6 billion. Article . This transaction is a continuation of our mission as Hershey also believes in bringing to consumers great-tasting snacks made with the best ingredients possible. document.write(theYear) December 18, 2017 07:01 ET 5 years ago. Find out more about how we use your information in our privacy policy and cookie policy. Hill Country, and we welcome you to our family. Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here . We want to hear from you. Both companies have jointly announced that they have entered into a definitive agreement under which Hershey will acquire . FINANCIAL CONTACT: MEDIA CONTACT: Mark Pogharian Leigh Horner: 717-534-7556 717-508-1247 Search 172,523 Deals Now SEARCH BY Buyer Type (PE or Strategic) Deal Size ($10M to $10B+) Adjusted earnings per share-diluted accretion in both years is substantially higher when excluding transaction related amortization. Under the terms of the agreement between Hershey and Amplify, Hershey has agreed to acquire all of the outstanding shares of Amplify Snack Brands, Inc. for $12.00 per share, in a transaction structured as a tender offer followed by a merger, valued at approximately $1.6 billion, including net debt and including a make-whole payment of $76 million related to the Tax Receivable Agreement (TRA). Strengthens Hershey's position in the snacking aisle and broadens its portfolio of innovative savory snacking brandsExpected to drive significant shareholder value through growth and margin. Factors that could cause results to differ materially include, but are not limited to: the ability to timely satisfy the conditions to the closing of the tender offer; the ability of Hershey to realize the benefits of the transaction; issues or concerns related to the quality and safety of products, ingredients or packaging; changes in raw material and other costs, along with the availability of adequate supplies of raw materials; selling price increases, including volume declines associated with pricing elasticity; market demand for new and existing products; increased marketplace competition; disruption to manufacturing operations or supply chain; failure to successfully execute and integrate acquisitions, divestitures and joint ventures; changes in governmental laws and regulations, including taxes; political, economic, and/or financial market conditions; risks and uncertainties related to international operations; disruptions, failures or security breaches of information technology infrastructure; the ability to hire, engage and retain a talented global workforce; the ability to realize expected cost savings and operating efficiencies associated with strategic initiatives or restructuring programs; complications with the design or implementation of Hersheys new enterprise resource planning system; and such other matters as discussed in Hersheys Annual Report on Form 10-K for the year ended December 31, 2016 and Hersheys Quarterly Report on Form 10-Q for the quarter ended October 1, 2017. This segment focuses on sparking growth in the warehouse snacking aisle through unique product flavors and forms, such as Skinny Pop, Paqui and Oatmega, according to Hershey. This strategic acquisition is expected to be accretive to Hersheys financial targets given the growth trajectory and margin structure of Amplifys key products. News of the deal rocketed Amplify's stock by 70 percent to $11.95 a share in Monday's premarket trading. Maribel Aber reports during Action News at 6 a.m. on December 18, 2017. The acquisition will enable Hershey to bring scale and category management capabilities to a key sub-segment of the warehouse snack aisle and create a broader portfolio of brands. Amplify's Skinny Pop, Tyrrells, Oatmega, and Paqui brands are expected to help Hershey . The U.S. candy giant agreed to buy Amplify Snack Brands Inc. for $12 a share, a 71 percent premium to Friday's closing price. Under the terms of the agreement between Hershey and Amplify, Hershey has agreed to acquire all of the outstanding shares of Amplify Snack Brands, Inc. for $12.00 per share, in a transaction . The Hershey Co. aims to add more better-for-you options to its snack lineup with a $1.6 billion deal to buy Skinny Pop maker Amplify Snack Brands Inc. Subscribe to Food Business News' free newsletters to stay up to date about the latest food and beverage news. On December 18, 2017, the Company announced that it entered into a definitive agreement to acquire all the outstanding shares of Amplify Snack Brands (NYSE: BETR) ("Amplify") for $12.00 per share in cash and assume about $600 million in debt for the SkinnyPop popcorn and Tyrrell's potato chips maker. It has agreed to purchase all shares of Amplify for $12 per share in cash, it said today. The webcast and accompanying presentation of the conference call will be available on Hersheys website (www.thehersheycompany.com/en_us/investors.html) prior to the start of the call._________________________1Based on midpoint of Amplifys guidance of $84-86mm in Adjusted EBITDA for the fiscal year 2017 as provided by Amplify during its third quarter earnings release on November 7, 2017 2For the purposes of calculating a transaction multiple, the TRA make-whole payment of $76 million is substantially offset by the net present value of the associated tax payments3Including earned equity compensation Important InformationIn connection with the proposed acquisition, a subsidiary of Hershey will commence a tender offer for theoutstanding shares of Amplify. In the 12 months ended Sept. 30, the snack manufacturer generated net sales of $372 million along with organic sales growth of 9.4 percent for their third quarter and 8.6 percent for the year-to-date period. Big marketers like Hershey have been seeking growth from niche acquisitions amid waning consumer enthusiasm for mainstream brands.. The transaction is subject to the approval of Amplifys majority stockholders and is expected to close in the first quarter of 2018. Texas Hill Country. | Terms of Service | Privacy Policy | Return Policy. | June 12, 2022 Texas Hill Country Facebook page is growing by over 1,000 fans per Both boards from these respective companies agreed to the deal through which Hershey will purchase all outstanding stock belonging to Amplify for $12 per share, in cash. Acquiring Amplify Snack Brands for a sweet deal at $1.2 billion, candy and chocolate maker The Hershey Company will be venturing into the healthy snack sector. Skinny Pop popcorn by Amplify Snack Brands. Amplify Snack Brands is behind growing snack brands Skinny Pop, Paqui chips, Oatmega healthy snack bars and Tyrrell's potato chips. More recently, large food companies have been making bigger bets on snacks, confronted with continued slow sales and an increasingly competitive retail environment. Amplify Snack Brands manufactures snacks under the SkinnyPop, Paqui, Tyrrells and Oatmega brands. LONDON, UK / ACCESSWIRE / December 20, 2017 / Active-Investors issued a free report on The Hershey Co. , which is readily accessible upon registration at. Both boards from these respective companies agreed to the deal through which Hershey will purchase all outstanding stock belonging to Amplify for $12 per share, in cash. Neither Hershey nor Amplify undertake any duty to update any forward-looking statement to conform the statement to actual results or changes in expectations. The Hershey Co., maker of the eponymous Kisses, announced plans Monday to acquire SkinnyPop parent Amplify Snack Brands for about $1.6 billion. Hershey is a great cultural partner for Amplify and Im excited for our team who will have access to Hersheys marketing and go-to-market resources to take our brands to the next level.. The conference call can be accessed by dialing (877) 888-4294 (U.S. / Canada) or (785) 424-1877 (International) and providing the passcode Hershey. Hershey, PA The Hershey Co. has agreed to purchase Amplify Snack Brands, Inc., makers of Skinny Pop, Tyrrells and Paqui products, in a deal valued at approximately $1.6 billion, according to the candymaker. Amplify manufactures snacks such as the Skinny Pop popcorn, Paqui Paqui tortilla chips, Tyrrells and Oatmega bars made with whey protein from grass-fed cows brands. The Hershey Company (NYSE: HSY), headquartered in Hershey, Pa., is a global confectionery leader known for bringing goodness to the world through its chocolate, sweets, mints and other. under the terms of the agreement between hershey and amplify, hershey has agreed to acquire all of the outstanding shares of amplify snack brands, inc. for $12 per share, in a transaction. Hershey to acquire Amplify Snack Brands. Holiday flavors are returning to shelves. Dec. 18, 2017 7:14 AM ET The Hershey Company (HSY) By: Niloofer Shaikh, SA News Editor 25 Comments The Hershey Company ( NYSE: HSY) entered into a definitive agreement to acquire all. Hershey Co. is expanding further beyond chocolate, agreeing to buy the owner of SkinnyPop popcorn and Tyrrell's potato chips for $921 million. Austin,. Candy king Hershey is buying Amplify Snack Brands, the maker of SkinnyPop popcorn, for $1.6 billion. Among snacks, salty bites such as popcorn and chips reign supreme, beating out candy, cheese and cookies. The boards of directors of both companies have approved the agreement. Breaking News. This communication is forinformational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell sharesof Amplify, nor is it a substitute for the tender offer materials that Hershey and its acquisition subsidiarywill file with the Securities and Exchange Commission (SEC) upon commencement of the tender offer. Amplify manufactures snacks such as the Skinny Pop popcorn, Paqui Paqui tortilla chips, Tyrrells and Oatmega bars made with whey protein from grass-fed cows brands. The Hershey Company. This transaction is a continuation of our mission as Hershey also believes in bringing to consumers great-tasting snacks made with the best ingredients possible. Under the terms of the agreement between Hershey and Amplify, Hershey has agreed to acquire all of the outstanding shares of Amplify Snack Brands, Inc. for $12.00 per share, in a transaction . Design, CMS, Hosting & Web Development :: Since Amplifys inception in 2014, our companys goal has been to bring transparency to our products, and clean ingredients and great tasting snacks to consumers, said Tom Ennis, president and chief executive officer of Amplify. day! Hershey to acquire Amplify Snack Brands for $1.6 billion - MMR: Mass Market Retailers Hershey to acquire Amplify Snack Brands for $1.6 billion December 19, 2017 by MMR HERSHEY, Pa. The Hershey Co. aims to add more better-for-you options to its snack lineup with a $1.6 billion deal to buy Skinny Pop maker Amplify Snack Brands Inc. of Hershey, Tom Ennis, president and c.e.o. It is the latest in a string of snack deals, as Big Food looks to reach increasingly mobile diners. Its stock though has more than halved, as it has struggled to support these acquisitions and the leverage they left behind. Hershey Co. is expanding further beyond chocolate, agreeing to buy the owner of SkinnyPop popcorn and Tyrrell's potato chips for $921 million. By continuing to browse the site you are agreeing to our use of cookies in accordance with our. We, Yahoo, are part of the Yahoo family of brands. The Hershey has acquired 16 companies, including 5 in the last 5 years. The acquisition is expected to save $20 million over the next two years through cost savings and portfolio optimization. How did Hershey determine the fair values of Amplify's assets? Further expanding its presence in the snack food category, The Hershey Co. will acquire Skinny Pop maker Amplify Snack Brands, Inc., early next year. Known until 2005 as the Hershey Food Corporation, The Hershey Company was founded by Milton S. Hershey in 1894 and is headquartered in Hershey, Pennsylvania. Copyright 2008 - The Hershey Company will be funding the transaction . | August 9, 2022 CNBC had reported Sunday that a deal was in the works. ( Chap 2 page 89) On January 31, 2018, The Hershey Company acquired Amplify Snack Brands, Inc., its largest business acquisition to date. places to stay, tourism, events, lodging, and we feature Texas Hill Country info Last year's Amplify acquisition was the biggest so far, both in the amount paid for the SkinnyPop, Paqui and Oatmega maker and in the reach it gave Hershey in the snack space. Pirate Brands will operate within Amplify's hub in Austin, Texas. Hershey to acquire Amplify Snack Brands. Target SkinnyPop Austin, Texas, United States website Amplify Snack Brands, Inc. (dba SkinnyPop) is a marketer of packaged popcorn products. The U.S. candy giant agreed to buy Amplify Snack Brands Inc. for $12 a share, a 71 percent premium to Friday's closing price. Snacks have been a rare point of growth for food companies, as U.S. consumers increasingly favor their food on the go. Little, Hersheys Senior Vice President & Chief Financial Officer, will host a conference call on December 18, 2017, at 8:30 AM ET to discuss this announcement with the financial community. Founded in 1999. Hershey Co. will acquire Amplify Snack Brands for approximately $1.6 billion. Follow. Get this delivered to your inbox, and more info about our products and services. under the terms of the agreement between hershey and amplify, hershey has agreed to acquire all of the outstanding shares of amplify snack brands, inc. for $12.00 per share, in a. Amplifys brands compete in many attractive food categories that are capitalizing on fast-growing trends in snacking with a focus on better-for-you products that deliver clean, simple and transparent ingredients as well as unique flavors and forms. In addition to SkinnyPop, Amplify's snack brands include Tyrrells, Oatmega and Paqui. Hershey Co. just sealed $1.6 billion deal with Amplify Snack Brands Inc. Both the tender offer statement and the solicitation/recommendation statement will be made available to Amplifys stockholders free of charge. The acquisition of Amplify and its product portfolio is an important step in our journey to becoming an innovative snacking powerhouse as together it will enable us to bring scale and category management capabilities to a key sub-segment of the warehouse snack aisle, said Michele Buck, president and chief executive officer of The Hershey Co. Hersheys snack mix and meat snacks products, combined with Amplifys SkinnyPop, Tyrrells, Oatmega, Paqui and other international brands, will allow us to capture more consumer snacking occasions by creating a broader portfolio of brands.. Data is a real-time snapshot *Data is delayed at least 15 minutes. The Amplify business - which produces brands such as Skinny Pop, Paqui and Oatmega - helped Hershey record a 5.3% net sales rise in its most recent quarterly figures. of all manners. The acquisition of Amplify and its product portfolio is an important step in our journey to becoming an innovative snacking powerhouse as together it will enable us to bring scale and category management capabilities to a key sub-segment of the warehouse snack aisle, said Michele Buck, The Hershey Company President and Chief Executive Officer. The deal is anticipated to close during 2018s first quarter of business. At the time, Hershey CEO Michele Buck called the Amplify acquisition vital to the company's journey towards becoming "an innovative snacking powerhouse." A Division of NBCUniversal. The Hershey's largest acquisition to date was in 2017, when it acquired Amplify Snack Brands for $1.6B. Just within the past couple of months, Kellogg announced its $600 million acquisition of RXBar, and Mars invested in the parent company of Kind Bar at a valuation of $3 billion to $4 billion. J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are serving as financial advisors to Hershey in connection with this transaction, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor. theYear=now.getYear() On Monday, Campbell Soup announced plans to buy Snyders-Lance for $4.87 billion. The deal represents the latest uptick in snack M&A. Austin, Texas-based Amplify Snack Brands makes and markets snack brands such as Skinny Pop, Paqui chips, Oatmega healthy snack bars and Tyrrell's potato chips. Affiliates of TA Associates, Amplifys largest stockholder, and key Amplify insiders, who collectively represent approximately 57%3 of the outstanding shares, have agreed to tender their shares in the transaction. However, Hershey . The Hershey Co. will acquire Amplify Snack Brands for $12 per share in cash. 5. Got a confidential news tip? A total of 5 acquisitions came from private equity firms.It has also divested 2 assets.. It has since sought to diversify, buying U.K. snack maker Tyrrells for roughly $391 million. now = new Date The deal values Amplify at $12 a share, a 71 percent premium to Friday's close. The deal represents the latest uptick in snack M&A. Getty Images The Hershey Co., maker of the eponymous Kisses,. Hershey is nearing a deal to acquire SkinnyPop's parent Amplify for $1.6 billion, sources familiar with the matter tell CNBC; The deal values Amplify at $12 a share, a 71 percent premium to Friday . "We're currently performing an assessment of the Amplify international portfolio (which includes UK-based Tyrrells it acquired in 2016) to determine how to best maximize the long-term prospects of the . Hersheys snack mix and meat snacks products, combined with Amplifys Skinny Pop, Tyrrells, Oatmega, Paqui and other international brands, will allow us to capture more consumer snacking occasions by creating a broader portfolio of brands., Since Amplifys inception in 2014, our companys goal has been to bring transparency to our products, and clean ingredients and great tasting snacks to consumers, said Tom Ennis, Amplify Snack Brands, Inc. President and Chief Executive Officer. Its recognized as one of the largest chocolate manufacturers in the world. The Hershey has acquired in 10 different US states, and 4 countries. Austin, Texas-based Amplify manufactures snacks under the SkinnyPop, Paqui, Tyrrells and Oatmega brands. Hershey has agreed to acquire Amplify Snack Brands in a deal which values equity of the business at $12 per share. AMPLIFYS STOCKHOLDERS ARE ADVISED TO READ THE SCHEDULE TO AND THE SCHEDULE 14D-9, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BEFORE THEY MAKE ANY DECISION WITH RESPECT TO THE TENDER OFFER, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES THERETO. Hershey hopes to use the newly acquired company to provide a competitive offering of brands in the nutrition bars category, saying that ONE Brands will complement its existing Oatmega business,. The Hershey ( HSY) acquisition values Amplify Snack Brands ( BETR) at $12 a share -- a. Hershey expects the transaction to be accretive to adjusted earnings per share-diluted, including transaction related non-cash amortization, in the first-year post closing with accretion increasing in year two. Safe Harbor StatementThis release contains forward-looking statements. Both companies' governing boards have . But we do need to expand our portfolio.". The acquisition is expected to save $20 million over the next . JPMorgan Securities and Morgan Stanley served as financial advisors to Hershey, and Skadden, Arps, Slate, Meagher & Flom served as legal advisor. Sign up for free newsletters and get more CNBC delivered to your inbox. Cross-category flavor innovation is coming to convenience stores. In addition, the tender offer statement and the solicitation/recommendation statement (and all other documents filed with the SEC) will be available at no charge on the SECs website: www.sec.gov, upon filing with the SEC. Amplify Snack Brands was founded in 2010 and is based in Austin, Texas. 'Important step' Michele Buck, president and CEO of Hershey, said: "The acquisition of Amplify and its product portfolio is an important step in our journey to becoming an innovative snacking powerhouse as together it will enable us to bring scale and category management capabilities to a key sub . Hershey's $1.6 billion acquisition of Amplify is part of their strategy to become an "innovative snacking powerhouse." In a step to further transform its product portfolio, The Hershey Co. ( HSY) announced Monday it is buying popcorn maker Amplify Snack Brands Inc. ( BETR) for $1.6 billion. Because actual results may differ materially from those contained in the forward-looking statements, you should not place undue reliance on the forward-looking statements when deciding whether to buy, sell or hold Hersheys or Amplifys securities. "The acquisition of Amplify and its product portfolio is an important step in our journey to becoming an innovative snacking powerhouse as together it will enable us to bring scale and category management capabilities to a key sub-segment of the warehouse snack aisle," said Michele Buck, The Hershey Company President and Chief Executive Officer.

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