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, which could be announced as early as Monday, would value Amplify at $12 a share, a 71 percent 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.
Just over a year ago, The U.S. candy maker had spurned a $107 per share takeover offer from Mondelez.
Hershey’s and Amplify were not immediately available for comment outside regular U.S. business hours.
By Parikshit Mishra
Danone has appointed three deputy CEOs to “better connect categories and regions” and drive the delivery of its ‘Renew Danone’ strategy. The new appointees are Veronique Penchienati-Bosetta, Shane Grant and Juergen Esser. They will report to Danone CEO Antoine de Saint-Affrique.
PepsiCo Portugal has announced that it will invest €7.5 million to construct a new biodigester, which will turn organic waste into biogas. As well as helping its Carregado facility to achieve a 30% reduction in carbon emissions, the biodigester will also contribute to reducing gas consumption, allowing the installation to use the biogas produced during the anaerobic digestion process.
Kerry is sponsoring The Kerry Upcycled Food Foundation Fellowship in a new partnership with the Upcycled Food Foundation (UFF), the non-profit subsidiary of the Upcycled Food Association (UFA). The research fellowship is the second initiated by the UFF and will work toward advancing the understanding of the market, consumer perception and technical opportunities of upcycled food.