🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Hershey paying $420M for Pirate Brands snack line

Published 09/12/2018, 06:08 PM
© Reuters.  Hershey paying $420M for Pirate Brands snack line
HSY
-
BGS
-
  • Hershey (NYSE:HSY) is plundering Pirate's Booty in a $420M deal.
  • The chocolate-making icon has entered a definitive deal with B&G Foods (NYSE:BGS) to acquire the Pirate Brands snack line, including Pirate's Booty cheese puffs, Smart Puffs and Original Tings.
  • “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," says Hershey's chief growth officer, Mary Beth West.
  • The deal's expected to be accretive to Hershey growth targets due to a strong trajectory and solid margin structure, Hershey says.
  • The deal will cost $360M net of tax benefits; it'll be financed with cash on hand and short-term borrowings and should close in Q4.
  • Now read: Hershey: Still Not Convinced


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.