USA: Hershey seals $397 million deal to acquire One Brands

Hershey, the US confectionery firm, has announced it has entered into a definitive agreement to acquire One Brands, the maker of a line of low-sugar, high-protein nutrition bars, for a purchase price of $397 million.

The chocolate maker said the deal “strengthened its position as a snacking leader” and would “provide a competitive offering of brands in the nutrition bar category”, adding that it would complement the company’s existing Oatmega business, which was acquired as part of the 2018 acquisition of Amplify Snack Brands, and its recent investment in Irish nutrition bar business Fulfil.

Frmerly known as Oh Yeah! Nutrition, One Brands was founded in 1999 and currently offers a range of snack bars under the One and One Basix names. Available in a range of flavours, One snack bars are claimed to contain 20g of protein and 1g of sugar per serving.

Commenting on the acquisitionl, Hershey chief growth officer Mary Beth West said: “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. 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”.

Source: Hershey (via Globe NewsWire) / One Brands