Hershey and Campbell Invest in Snacking

Acquisitions of Amplify Snacks and Snyder’s-Lance, respectively, will help strengthen their position within the snacking category.

December 19, 2017

HERSHEY, Pa. & AUSTIN, Texas; CAMDEN, N.J. & CHARLOTTE, N.C.  – This week, four companies announced acquisitions that seek to shake up the snacking category: The Hershey Company is acquiring Amplify Snack Brands Inc., and Campbell Soup Company is acquiring Snyder’s-Lance.

“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, president and CEO of Hershey. “Hershey’s snack mix and meat snacks products, combined with Amplify’s Skinny Pop, Tyrrells, Oatmega, Paqui and other international brands, will allow us to capture more consumer snacking occasions by creating a broader portfolio of brands.”  

Amplify’s brands compete in many attractive food categories that are capitalizing on fast-growing trends in snacking with a focus on better-for-you products that deliver clean, simple and transparent ingredients as well as unique flavors and forms. Additionally, this combination brings customers a known brand-building partner that invests in category management solutions to drive higher levels of conversion and velocity at retail.

Additionally, Campbell Soup Company and Snyder’s-Lance announced an agreement this week, which has been approved by the Boards of Directors of both companies, and will enable Campbell to expand its portfolio of leading snacking brands. Snyder’s-Lance manufactures and markets snack food throughout the United States, with brands such as Snyder’s of Hanover, Lance, Kettle Brand, Kettle chips, Cape Cod, Snack Factory Pretzel Crisps, Pop Secret, Emerald and Late July.

Brian J. Driscoll, president and CEO of Snyder’s-Lance, said, “Following a thorough review process of strategic options, we believe this transaction maximizes value for our shareholders through an immediate and certain cash premium. The transaction also unlocks the value of our portfolio, reflecting the progress we have made planning and executing our transformation.”

This is Campbell’s sixth acquisition in five years. The company acquired Bolthouse Farms in August 2012, organic baby food company Plum in June 2013, biscuit company Kelsen in August 2013, fresh salsa and hummus maker Garden Fresh Gourmet in June 2015, and organic broth and soup producer Pacific Foods in December 2017.

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