These statements are made based upon current expectations that are subject to risk and uncertainty. The transaction is expected to close in the fourth quarter of 2018, subject to customary regulatory approvals and other closing conditions. Hershey's is "a branded high gross margin company," she added, and future savory investments need to keep pace. September 12, 2018 18:00 ET "Pirate's Booty is a leading . This strategic acquisition is expected to be accretive to Hershey's financial targets given the strong growth trajectory and solid margin structure of the Pirate Brands business. The Hershey Company to Acquire Pirate Brands for $420 Million. Hershey has entered into an agreement to acquire B&G Foods' Pirate Brands business - which includes the Pirate's Booty, Smart Puffs and Original Tings brands - in a deal worth $420 million. Pirate's Booty has not yet been coated in chocolate, so we are unlikely to see it in the near future. Nutrition, ONE Brands was founded in 1999 by Ron McAfee. And Campbell Soup (CPB) acquired Bolthouse Farms, which sells smoothies, juices and carrots, in 2012. The deal represents the latest uptick in . With the acquisition, Hershey's aims to enter the cheese puff category. Pirate Brands will operate within Amplify, Hershey's better-for-you snacking hub in Austin, Tx., which is focused on driving growth in the warehouse snacking aisle with unique product flavors and forms like Skinny Pop, Paqui and Oatmega. In August, the company announced that it is selling off Campbell Fresh, which includes Bolthouse, in order to refocus on its core brands like Pepperidge Farm and Cape Cod chips. "We acquired Pirate Brands in 2013 for approximately $195 million," B&G CEO Robert C. Cantwell said, and "have more than doubled the value of the business in five short years, creating tremendous value for our shareholders.". 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. Learn More Buy Skinny Pop Popcorn Gluten Free and Never Fried Seriously tasty Pirate's Booty puffs and straws have straightforward ingredients for the entire crew. The project is expected to open in December 2025. Pirate's Booty: A Vegan-friendly And Kosher Snack Option. Hershey Acquires Pirate Brands . On the SkinnyPop front, the brand was busy: It introduced three new popcorn flavors in Sweet and Salty Kettle Popped Popcorn, Real Butter and Twist of Lime. At San Francisco Restaurant, Pups Chow on Filet Mignon. 9. By Keith Nunes Hershey, pa. The Hershey Co. has entered into an agreement to acquire the Pirate Brands snack business from B&G Foods, Inc., Parsippany, N.J., for $420 million. The company, currently backed by Cavu Venture Partners, has roots in sports nutrition. All content of the Dow Jones branded indices S&P Dow Jones Indices LLC 2018 "Pirate Brands is a terrific business and we believe that it will thrive under the ownership of The Hershey Co.,"said Bob Cantwell, president and CEO, B&G Foods. Cable News Network. Pennsylvania-based Hershey has more than 80 brands around the world that drive more than $7.5 billion in annual revenues, including such iconic brand names asHershey's,Reese's,Kit Kat,Jolly Rancher, Ice Breakers and SkinnyPop. Campari Group's first investment in the segment was its 2009 acquisition of Wild Turkey. The chocolate maker announced on Wednesday that it has agreed to acquire Pirate Brands, which makes Pirate's Booty, Smart Puffs and. The cheese-puff prodigy is the latest of several healthy snack brands to fall under the spell of Hershey's kiss. 2022 Industrial Media, LLC. Hershey purchased Pirate Brands in 2015 for $420 million. Tri-Us, Inc. acquired by The Hershey Company Tri-Us, Inc. (Reuters) - Hershey Co HSY.N said on Wednesday it would buy Pirate Brands from B&G Foods Inc BGS.N for $420 million in an all-cash deal, giving the chocolate maker rights to snack brands. Factors that could cause results to differ materially include, but are not limited to: issues or concerns related to the quality and safety of our 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 our new and existing products; increased marketplace competition; disruption to our 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 our international operations; disruptions, failures or security breaches of our information technology infrastructure; our ability to hire, engage and retain a talented global workforce; our ability to realize expected cost savings and operating efficiencies associated with strategic initiatives or restructuring programs; complications with the design or implementation of our new enterprise resource planning system; and such other matters as discussed in our Annual Report on Form 10-K for the year endedDecember 31, 2017. We expect the full Pirate Brands portfolio to be a great fit for Hersheys growing Amplify business which is targeted toward consumers who are looking for great-tasting snacks without compromise.. All information in this press release is as of September 12, 2018. Hershey has agreed to buy Pirate Brands for $420 million in an all-cash deal, giving the chocolate maker rights over snack brands such as Pirate's Booty, Smart Puffs and Original Tings. Food acquisition news : US chocolate and snacks manufacturer The Hershey Company (Hershey's) has agreed to acquire Pirate Brands, a manufacturer of cheese puffs, from B&G Foods for $420 million in an all-cash deal. Hershey has approximately 17,000 employees around the world who work every day to deliver delicious, quality products. Stops Material Loss in Its Tracks, The Relentless Pressure on Food Manufacturers to Produce Quickly and Safely, Ukraine Bakery Supplies Bread for the Front Lines, No Food Manufacturing Newsletters Next Week, Beer Institute Announces Leadership Apppointments, Why Maple Leaf Foods Switched to Augmented Reality, Digital Transformation for Food Processors. Credit: Antarctic96. SkinnyPop. 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 the company's securities. "Pirates Bootyis a leading cheese puffs brand loved by moms and kids as a better-for-you treat,"said Mary Beth West, chief growth officer, The Hershey Co. "We expect the full Pirate Brands portfolio to be a great fit for Hersheys growing Amplify business which is targeted toward consumers who are looking for great-tasting snacks without compromise.". The company has more than 80 brands around the world that drive more than $7.5 billion in annual revenues, including such iconic brand names as Hershey's, Reese's, Kit Kat, Jolly Rancher, Ice Breakersand SkinnyPop. Pirates Booty is a leading cheese puffs brand loved by moms and kids as a better-for-you treat, said Mary Beth West, Chief Growth Officer, The Hershey Company. The bags fit around 4 ounces of material; if all 17,400 are returned, that would equal more than 2 tons of recycled wrappers. The. The company acquired ONE Brands, LLC in September 2019 to solidify its footing in the snacking category. Hershey's has reportedly inked a deal with Pirate Brands owner B&G Foods to buy the suite of snacks for $420 million. The company also spent $420 million to acquire Pirate Brands from B&G Foods . Its biggest deal came in 2017 when Hershey added Amplify Snack Brands, parent company of SkinnyPop, for $1.6 billion. For more than 125 years, Hershey has been committed to operating fairly, ethically and sustainably. 2021 The move by Hershey's is being viewed as a means to expand the company's portfolio to include healthier snacks. 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. We are looking forward to growing the full Pirate Brands portfolio in the years to come.. The Hershey Company General Mills (GIS) bought Annie's, which makes organic pasta and snacks, for $820 million in 2014. "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, in a statement. It is a market leader for consumers seeking snacks with clean labels and no artificial flavors, colors or preservatives, the company added. For more than 120 years, Hershey has been committed to operating fairly, ethically and sustainably. All information in this press release is as ofOctober 17, 2018. The transaction will be financed with cash on hand, as well as short-term borrowings. Pirates Booty is a leading cheese puffs brand loved by moms and kids as a better-for-you treat, said Mary Beth West, Chief Growth Officer, The Hershey Company. The acquisition strengthens Hersheys position as a better-for-you snacking leader. . A preliminary investigation said coworkers found him the following morning. HERSHEY, Pa. and PARSIPPANY, N.J., Sept. 12, 2018 (GLOBE NEWSWIRE) -- The Hershey Company (NYSE:HSY) and B&G Foods, Inc. (NYSE:BGS) today announced that they have entered into a definitive agreement for Hershey to acquire Pirate Brands, including the Pirates Booty, Smart Puffs and Original Tings brands. All rights reserved. The company has more than 80 brands around the world that drive more than$7.5 billionin annual revenues, including such iconic brand names as Hersheys, Reeses, Kit Kat, Jolly Rancher, Ice Breakers and SkinnyPop. US-based food snacks manufacturer The Hershey Company has purchased Pirate Brands from B&G Foods for $420m. The transaction will be financed with cash on hand as well as short-term borrowings. We are thrilled to have the fast-growing Pirates Booty brand as part of the Hershey product portfolio, said Mary Beth West, Chief Growth Officer, The Hershey Company. Hershey acquired various Pirate brands including Pirate's Booty, Smart Puffs and Original Tings. Boards. The company has more than 90 brands around the world that drive more than $8 billion in annual revenues, including such iconic brand names as Hershey's, Reese's, Kit Kat, Jolly Rancher, Ice. Powder & Bulk Solids is part of the Informa Markets Division of Informa PLC . gsheldon / Getty Images. The Importance of Cross-Merchandising with Top Snack Brands; Snacks & Candy Hershey Acquires Maker of Pirate's Booty Chocolate manufacturer will pay $420 million to B&G Foods By Brett Dworski on Sep. 12, 2018 Facebook; Twitter; LinkedIn; HERSHEY, Pa., and PARSIPPANY, N.J. . Hershey To Acquire Pirate Brands From B&g Foods - Pirate Brands Logo is a completely free picture material . ; The deal values Amplify at $12 a share, a 71 percent premium to Friday's close. 13 Sep 2018 --- The Hershey Company and B&G Foods, Inc. has entered into a definitive agreement for Hershey to acquire Pirate Brands, including the Pirate's Booty, Smart Puffs and Original Tings brands in a deal that is worth US$420 million. HERSHEY, Pa. The Hershey Co. entered a definitive agreement with B&G Foods Inc. to acquire Pirate Brands, including the Pirates Booty, Smart Puffs and Original Tings brands. Hershey's announced that it has entered into a definitive agreement to acquire Pirate Brands, which includes Pirate's Booty, Smart Puffs and Original Tings, from its parent company B&G Foods . The chocolate maker announced on Wednesday that it has agreed to acquire Pirate Brands, which makes Pirate's Booty, Smart Puffs and Original Tings, in order to expand its healthier snacks portfolio. Do Not Sell, Inside Hershey's super secret chocolate lab, First published September 13, 2018: 12:41 PM ET, Amplify Snack Brands, which makes SkinnyPop popcorn and Oatmega whey-protein bars, for $1.6 billion, that it is buying DIY seltzer maker SodaStream, bought Annie's, which makes organic pasta and snacks, for $820 million in 2014, announced that it is selling off Campbell Fresh, These are your 3 financial advisors near you, This site finds and compares 3 financial advisors in your area, Check this off your list before retirement: talk to an advisor, Answer these questions to find the right financial advisor for you, An Insane Card Offering 0% Interest Until Nearly 2020, Transferring Your Balance to a 14-Month 0% APR is Ingenious, The Top 7 Balance Transfer Credit Cards On The Market Today, Get $300 Back With This Outrageous New Credit Card. Formerly known as Oh Yeah! 1990's 1996: Acquisition of LEAF, Inc. The transaction is expected to close in the fourth quarter of 2018, subject to customary regulatory approvals and other closing conditions. In June, Conagra (CAG) agreed to shell out $10.9 billion for Pinnacle Foods, which makes Smart Balance and Udi's Gluten Free Foods, among others. This strategic acquisition is expected to be accretive to Hersheys financial targets given the strong growth trajectory and solid margin structure of the Pirate Brands business. The effort is expected to increase capacity and add more than 1,100 jobs mostly in rural areas. Pirate Brands will operate within Amplify's hub in Austin, Texas. Others invested in healthier food earlier. A chemical found in coffee inhibits the interaction between the virus and human cells. 2014 Getty Images. HERSHEY, Pa., and PARSIPPANY, N.J. - The Hershey Co. has agreed to acquire Pirate Brands, the maker of Pirate's Booty, Smart Puffs and Original Tings, from holding company B&G Foods Inc. for $420 million. The Hershey Company Feb 21, 2012 3. 1980's 1988: Re-launch of "5th Avenue" National re-launch of "5th Avenue" candy bar. Pirate Brands, which makes baked, all-natural, trans fat and gluten free snack brands, is the Morningstar, Inc. All Rights Reserved. Hershey's has acquired Pirate Brands for $420 million, which makes Pirate's Booty, Smart Puffs and Original Tings, CNN reports. About The Hershey CompanyTheHershey Company, headquartered inHershey, Pa., is an industry-leading snacks company known for bringing goodness to the world through its iconic brands, remarkable people and enduring commitment to help children succeed. The Pirate Brands purchase price is $420 million, or approximately $360 million net of tax benefits. The acquisition will expand Hershey's healthier snack portfolio. Business. Today, the company continues this social purpose through 'Nourishing Minds,' a global initiative that provides basic nutrition to help children learn and grow. For Campbell's, the bet was a bust. Mexican Company to Build $200M, 295-Worker Bakery in Georgia. HERSHEY, Pa. The Hershey Co. entered a definitive agreement with B&G Foods Inc. to acquire Pirate Brands, including the Pirate's Booty, Smart Puffs and Original Tings brands. But only if farmers can find the right price point. September 14, 2018. and/or its affiliates. "Third quarter results came in ahead of our expectations, as our increased brand investments and improved supply chain helped support . In September of 2018, Hershey's purchased the Pirate's Booty line of snacks from B&G Foods for $420 million. Statistics Export to CSV Transaction Name Acquiree Name Acquirer Name Announced Date Add Column 1. 1. Amplify also manages BarkTHINS, the chocolate snacking company Hershey's snatched up in 2016. HERSHEY, Pa. and PARSIPPANY, N.J., Sept. 12, 2018 (GLOBE NEWSWIRE) The Hershey Company and B&G Foods, Inc. on Wednesday announced that they have entered into a definitive agreement for Hershey to acquire Pirate Brands, including the Pirates Booty, Smart Puffs and Original Tings brands. Factors that could cause results to differ materially include, but are not limited to: issues or concerns related to the quality and safety of our 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 our new and existing products; increased marketplace competition; disruption to our 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 our international operations; disruptions, failures or security breaches of our information technology infrastructure; our ability to hire, engage and retain a talented global workforce; our ability to realize expected cost savings and operating efficiencies associated with strategic initiatives or restructuring programs; complications with the design or implementation of our new enterprise resource planning system; and such other matters as discussed in our Annual Report on Form 10-K for the year ended December 31, 2017. Three attorneys general want the payment blocked pending a review of a $20 billion merger proposal. The. under which this service is provided to you. The Hershey Company, Strengthens Hersheys position as a better-for-you snacking leader and within the $14B warehouse snacking aisle. Judie Bizzozero | Sep 13, 2018 The company noted that Pirate's Booty is the fastest-growing brand in the category, with 8% growth year over year. Dot's Pretzels acquired by The Hershey Company Dot's Pretzels The Hershey Company Nov 10, 2021 2. This strategic acquisition is expected to be accretive to Hershey's financial targets given the strong growth trajectory and solid margin structure of [] All rights reserved. Learn More Buy Pirate's Booty The Hershey Company and B&G Foods, Inc. have announced that they have entered into a definitive agreement for Hershey to acquire Pirate Brands, including the Pirate's Booty, Smart Puffs and Original Tings brands. Apparently, Hershey's has been acquiring several brands in a bid to provide healthier offerings to consumers. This strategic acquisition is expected to be accretive to Hersheys financial targets given the strong growth trajectory and solid margin structure of the Pirate Brands business. Most stock quote data provided by BATS. USDA Says More than $200M Will Help Meat Processors Expand. The Hershey Co. has finalized the acquisition of Pirate Brands from B&G Foods Inc., including the Pirate's Booty, Smart Puffs and Original Tings brands, for a purchase price of $420. Pirate Brands is a terrific business and we believe that it will thrive under the ownership of The Hershey Company, said Bob Cantwell, President and Chief Executive Officer, B&G Foods. For more than 120 years, Hershey has been committed to operating fairly, ethically and sustainably. All Rights Reserved.Terms The candy and snack maker agreed to purchase B&G Foods in September for $420 million, approximately $360 million net of tax benefits. Pirate Brands will operate within Hershey's "better-for-you" snacking unit Amplify Snack Brands, which it bought last year for around $1.6 billion. HERSHEY, Pa., and PARSIPPANY, N.J. -- The Hershey Co. has finalized its acquisition of Pirate Brands, the maker of Pirate's Booty, from holding company B&G Foods Inc. Factset: FactSet Research Systems Inc. 2018. By providing your email, you agree to our. Hershey To Acquire Pirate Brands From B&g Foods - Pirate Brands Logo is a high-resolution transparent PNG image. In a statement, the company announced that Pirate Brands will operate within Amplify, Hershey's better-for-you snacking hub in Austin, Texas. Earlier this year, PepsiCo said it is acquiring Bare Snacks, which makes baked fruit and vegetable snacks. Pirate Brands will operate within Amplify, Hersheys better-for-you snacking hub in Austin, which is focused on driving growth in the warehouse snacking aisle with unique product flavors and forms likeSkinny Pop, PaquiandOatmega. Informa. The Hershey Co. will pay $420 million to acquire Pirate Brands, including the Pirate's Booty, Smart Puffs and Original Tings, from B&G Foods Inc.
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