NEW YORK: Hershey Co, the maker of Reese’s Peanut Butter Cups and Hershey’s Kisses, is nearing a deal to buy SkinnyPop parent Amplify Snack Brands for $1.6 billion, CNBC reported on Monday.
The deal would value Amplify at $12 a share, a 71 per cent premium to Friday’s closing price, CNBC added, citing sources familiar with the matter.
Global food manufacturers have been struggling with weakening growth as consumers seek healthier foods. Pennsylvania-based Hershey has been boosting its portfolio in snacks, which are typically lower-margin products than candy. — Reuters