Hershey Co. Buys Snack Business Pirate Brands for $420M

October 19, 2018

1 Min Read
Hershey Co. Buys Snack Business Pirate Brands for $420M
Hershey finalized details for its purchase of the snack business Pirate Brands. Image courtesy of Flickr user jeepersmedia

American food firm The Hershey Company recently finalized a $420 million transaction the acquire the Pirate Brands business – which includes snack brands like Pirate’s Booty and Smart Puffs – from B&G Foods Inc., a press release announced this week. 

“We’re thrilled to have the fast-growing Pirate’s Booty brand as part of the Hershey product portfolio,” Mary Beth West, chief growth officer of the Hershey Company, said in a statement. “More and more consumers are seeking great-tasting snacks with clean labels and no artificial flavors, colors, or preservatives, and Pirate’s Booty fits this need. We are looking forward to growing the full Pirate Brands portfolio in the years to come.”

The business was sold to Hershey’s subsidiary, Amplify Snack Brands Inc. 

Parsippany, NJ-based B&G Foods said in a separate press release that it plans to use funds from the sale of the business to repay several loans it received. The firm also owns the Green Giant, Ortega, SnackWell’s, and Spice Island brands. 

Hershey and B&G Foods entered into a definitive agreement for the sale this September, Powder & Bulk Solids reported. The Pennsylvania-based firm said the acquisition will support Hershey’s financial goals as Pirate Brands has demonstrated a strong history of growth. 

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