For anyone who has not been to the Hershey Company factory in Pennsylvania, you must go. Not only do you get free samples left and right, but you also get to learn the rich history about Mr. Milton S. Hershey himself and what the company was founded upon. The mega chocolate producer is parent to other well-known brands such as M&M’s, Reese's Peanut Butter Cups, Cadbury's, and Krave Jerky (the history and interactions with each company was mentioned during the trolley tours!). Now, Hershey’s will have ONE Brands, L.L.C. under its belt, expanding its snacking power.
“ONE’s portfolio of great tasting nutrition bars, with indulgent flavors such as birthday cake, maple glazed donut, and peanut butter pie, will be a strong strategic fit within our overall innovative snacking powerhouse vision,” said Mary Beth West, Chief Growth Officer for Hershey. “Our beloved confection brands will continue to be the engine that drives our business while we broaden our better-for-you portfolio, offering more snacking choices for more consumers.”
According to the press release, the acquisition agreement was set for $397 million and to close in the fourth quarter of 2019. ONE Brands, founded in 1999 by Ron McAfee, also manufactures a line of bars sweetened with stevia called ONE Basix. Hershey intends to expand the existing ONE Brands offerings by “leveraging its core capabilities in sales and distribution, category management, and digital commerce,” Hershey said.
The latest acquisition will complement Hershey’s Oatmega business, which it acquired as part of the 2018 purchase of Amplify Snack Brands, as well as its recent investment in Fulfil Holdings Ltd., a European manufacturer of vitamin-fortified, high-protein nutrition bars, Hershey stated. The company expects the ONE Brands acquisition to be slightly accretive to earnings in the first full year post closing.
Available in flavors such as pumpkin pie, cinnamon roll, chocolate chip cookie dough, and white chocolate truffle, the bars provide 20 grams of protein, contain one gram of sugar per bar, and is certified gluten-free. If Mr. Hershey was still around, I’m sure he’d smile at how far his company has come and how his vision has remained.
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