The Hershey Co. expects to close on a $395 million deal by the end of the year with a Charlotte, North Carolina, nutrition bar manufacturer.
One Brands LLC, a nutrition bar company with an emphasis on low-sugar and high-protein snacks has entered into a definitive agreement to be acquired by the Derry Township-based Hershey Co.
The merger would be Hershey’s latest push into the health snacking market. Last year, Hershey acquired Amplify Snack Brands, the maker of SkinnyPop popcorn and Oatmega protein bars and announced in August that it would be making a minority investment in the Dublin, Ireland-based nutrition bar maker, FULFIL Holdings Limited.
Hershey said in a press release that it plans to expand One’s products past its current offerings of protein bards and stevia sweetened protein bars.
“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 Mary Beth West, Hershey’s Chief Growth Officer. “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.”
One was founded in 1999 and founder Ron McAfee said that the company is proud of the brand it built as an independent company but is looking forward to the momentum that Hershey can provide.
“Our consumer proposition, brand equity and team provide us with confidence, especially when combined with an industry leader like Hershey, said Peter Burns, CEO of One Brands.