STREAMING NOW: Watch Now

Hershey's buys Pirate's Booty to double down on healthy snacks

Hershey's is increasing its bet on healthy food.The chocolate maker announced on Wednesday that it ha...

Posted: Sep 14, 2018 4:54 AM
Updated: Sep 14, 2018 4:54 AM

Hershey's is increasing its bet on healthy food.

The chocolate maker announced on Wednesday that it has agreed to acquire Pirate Brands, which makes Pirate's Booty, Smart Puffs and Original Tings, in order to expand its healthier snacks portfolio.

B&G Foods will sell the suite of snacks for $420 million.

Last year, Hershey's bought Amplify Snack Brands, which makes SkinnyPop popcorn and Oatmega whey-protein bars, for $1.6 billion. Pirate Brands will operate within Amplify's hub in Austin, Texas.

"We expect the full Pirate Brands portfolio to be a great fit for Hershey's growing Amplify business which is targeted toward consumers who are looking for great-tasting snacks without compromise," said Mary Beth West, Hershey's chief growth officer, in a statement.

Amplify also manages BarkTHINS, the chocolate snacking company Hershey's snatched up in 2016.

A number of other companies have made hefty investments in the health food trend in an attempt to lure customers with alternatives to sweet or fatty snacks.

In June, Conagra agreed to shell out $10.9 billion for Pinnacle Foods, which makes Smart Balance and Udi's Gluten Free Foods, among others. PepsiCo announced last month that it is buying DIY seltzer maker SodaStream for $3.2 billion. Earlier this year, PepsiCo said it is acquiring Bare Snacks, which makes baked fruit and vegetable snacks.

Others invested in healthier food earlier. General Mills bought Annie's, which makes organic pasta and snacks, for $820 million in 2014. And Campbell Soup acquired Bolthouse Farms, which sells smoothies, juices and carrots, in 2012.

For Campbell's, the bet was a bust. In August, the company announced that it is selling off Campbell Fresh, which includes Bolthouse, in order to refocus on its core brands like Pepperidge Farm and Cape Cod chips.

Hershey's said the Pirates snacks will help it break into the more than $2.5 billion cheese puffs category. The company noted that Pirate's Booty is the fastest-growing brand in the category, with 8% growth year over year.

For B&G, capitalizing on the health food trend has already paid off.

"We acquired Pirate Brands in 2013 for approximately $195 million," B&G CEO Robert C. Cantwell said, and "have more than doubled the value of the business in five short years, creating tremendous value for our shareholders."

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 46915

Reported Deaths: 2681
CountyConfirmedDeaths
Marion11499683
Lake5053242
Elkhart316443
Allen2717128
St. Joseph186366
Cass16369
Hamilton1518100
Hendricks1386100
Johnson1254118
Porter71237
Tippecanoe6778
Madison64864
Clark63844
Bartholomew58244
Howard56057
LaPorte55326
Kosciusko5124
Vanderburgh4806
Jackson4653
LaGrange4657
Noble45728
Hancock43735
Boone43443
Delaware42949
Marshall4273
Shelby42025
Floyd37144
Morgan32531
Montgomery29320
Grant29026
Clinton2852
Monroe26628
Dubois2646
White26010
Decatur24832
Henry24315
Lawrence23624
Vigo2288
Dearborn22723
Harrison21022
Warrick21029
Greene18432
Miami1812
Jennings17111
Putnam1688
Scott1607
DeKalb1594
Daviess14116
Orange13523
Wayne1346
Perry1279
Steuben1262
Franklin1248
Jasper1142
Ripley1147
Carroll1102
Wabash1102
Fayette987
Newton9710
Whitley884
Starke853
Randolph784
Huntington712
Wells711
Jefferson701
Fulton681
Jay680
Washington661
Knox630
Pulaski621
Clay604
Gibson592
Rush563
Adams481
Benton480
Owen471
Sullivan441
Brown381
Blackford372
Posey360
Spencer351
Fountain302
Tipton301
Crawford290
Switzerland260
Martin220
Parke220
Ohio140
Warren141
Union130
Vermillion130
Pike90
Unassigned0193

Ohio Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 55257

Reported Deaths: 2903
CountyConfirmedDeaths
Franklin9825417
Cuyahoga7392372
Hamilton5605197
Marion273038
Lucas2669302
Pickaway218441
Summit2079206
Montgomery191826
Mahoning1805231
Butler151144
Columbiana128860
Stark1079112
Lorain98367
Trumbull91665
Warren81421
Clark7619
Belmont54322
Delaware54115
Fairfield52916
Tuscarawas52910
Medina50632
Lake48018
Miami45531
Licking44212
Portage42858
Ashtabula42544
Wood40451
Geauga39942
Clermont3906
Wayne35951
Richland3255
Allen30540
Mercer2788
Darke24525
Greene2449
Erie23422
Holmes2203
Huron1992
Madison1928
Ottawa13923
Crawford1345
Washington13020
Putnam12615
Sandusky12614
Hardin12012
Morrow1161
Ross1133
Auglaize1044
Coshocton902
Monroe8817
Jefferson832
Union801
Hancock781
Hocking788
Muskingum761
Preble701
Williams682
Guernsey673
Lawrence670
Clinton660
Shelby644
Fulton610
Ashland581
Carroll583
Logan581
Wyandot585
Brown541
Defiance493
Fayette460
Knox451
Highland441
Athens431
Champaign391
Scioto380
Seneca332
Perry321
Van Wert320
Henry290
Paulding230
Adams221
Pike220
Vinton222
Jackson180
Gallia141
Harrison121
Meigs110
Morgan110
Noble110
Unassigned00
Fort Wayne
Broken Clouds
77° wxIcon
Hi: 91° Lo: 66°
Feels Like: 78°
Angola
Clear
72° wxIcon
Hi: 89° Lo: 66°
Feels Like: 72°
Huntington
Scattered Clouds
73° wxIcon
Hi: 78° Lo: 67°
Feels Like: 73°
Decatur
Clear
72° wxIcon
Hi: 92° Lo: 66°
Feels Like: 72°
Van Wert
Clear
72° wxIcon
Hi: 93° Lo: 65°
Feels Like: 72°
More Heat & Humidity Sunday
WFFT Radar
WFFT Temperatures
WFFT National

Community Events