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The Hershey Company Acquires Texas-Based Amplify Snack Brands

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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. 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. The deal is anticipated to close during 2018’s first quarter of business.

Making such products as Tyrrells potato chips, Skinny Pop popcorn, and Oatmega protein bars, Amplify Snack Brands is based in Austin, Texas and was founded in 2014. The business employees approximately 600 people. On news of the deal, shares in Amplify, which had closed at $7 on December 14, jumped over 70 percent in premarket trading, to close to $12.

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. It’s recognized as one of the largest chocolate manufacturers in the world. Their products are sold internationally, in over 60 countries. On top of that, the company is a member of the World Cocoa Foundation. On the company website, the acquisition of Amplify Snack Brands and its full product contingent is recognized as moving The Hershey Company “…one step closer to becoming a versatile snacking powerhouse.”