PIRATE BRANDS acquired by HERSHEY COMPANY

The Hershey Company closed its acquisition of Pirate Brands from B&G Foods on 17 October 2018, for an EV of . The definitive agreement, signed on 12 September 2018, had been subject to customary regulatory approvals and other conditions, and Hershey funded the purchase with cash on hand and short-term borrowings. Pirate Brands now operates inside Amplify, Hershey's better-for-you snacking hub in Austin, Texas, alongside Skinny Pop, Paqui and Oatmega. Mary Beth West, Hershey's Chief Growth Officer, described Pirate's Booty as a leading cheese puffs brand and said the full portfolio fits Amplify, which targets consumers seeking snacks with clean labels and no artificial flavors, colors or preservatives. Bob Cantwell, President and Chief Executive Officer of B&G Foods, said the business should thrive under Hershey ownership. Pirate's Booty competes in a cheese puffs category worth more than $2.5 billion, with retail sales up over 8% year over year. Hershey, headquartered in Hershey, Pennsylvania, employs approximately 17,000 people and holds more than 80 brands generating more than $7.5 billion in annual revenues, including Hershey's, Reese's, Kit Kat, Jolly Rancher, Ice Breakers and SkinnyPop.