- The Hershey Company (NYSE:HSY) entered into a definitive agreement to acquire all outstanding shares of Amplify Snack Brands (NYSE:BETR) for $12.00 per share in cash, valued at ~$1.6B.
- “The acquisition of Amplify and its product portfolio is an important step in our journey to becoming an innovative snacking powerhouse as together it will enable us to bring scale and category management capabilities to a key sub-segment of the warehouse snack aisle,” said Michele Buck, The Hershey Company President and Chief Executive Officer.
- The acquisition is expected to be accretive to adjusted earnings per share in the first-year post closing.
- FY2017 outlooks provided in Hershey’s and Amplify’s Q3 earnings release and conference calls remains unaffected.
- The transaction will be funded with cash on hand and new debt and is not expected to impact Hershey’s current ratings.
- The transaction is expected to close in Q1 2018.
- Press Release
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