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Hershey Boosts Snack Portfolio With 397M One Brands Aquisition

HERSHEY, PA -- Hershey Co. is continuing to strengthen its position as a snacking leader with a definitive agreement to acquire One Brands LLC, the maker of a line of low-sugar, high-protein nutrition bars for $397 million. "One's portfolio of great-tasting nutrition bars, with indulgent flavors such as birthday cake, maple-glazed doughnut and peanut butter pie, will be a strong strategic fit within our overall innovative snacking powerhouse vision," said Hershey chief growth officer Mary Beth West. The...

August 28, 2019 by Emily Jed

HERSHEY, PA -- Hershey Co. is continuing to strengthen its position as a snacking leader with a definitive agreement to acquire One Brands LLC, the maker of a line of low-sugar, high-protein nutrition bars for $397 million.

"One's portfolio of great-tasting nutrition bars, with indulgent flavors such as birthday cake, maple-glazed doughnut and peanut butter pie, will be a strong strategic fit within our overall innovative snacking powerhouse vision," said Hershey chief growth officer Mary Beth West.

The acquisition is expected to enable Hershey to provide a competitive offering of brands in the nutrition bar category. One Brands will complement the company's existing Oatmega business, which was acquired as part of the 2018 acquisition of Amplify Snack Brands Inc., and its recent investment in Fulfil Holdings Ltd., a European leader in great tasting, vitamin-fortified, high-protein bars. Hershey intends to expand the existing One Brands offerings by leveraging its core capabilities in sales and distribution, category management and digital commerce.

The transaction will be financed with cash on hand as well as short-term borrowings. The transaction is expected to close in the fourth quarter of 2019.