Sat. Nov 16th, 2019

Hershey buys maker of sweet nutrition bars for nearly $400 million

1 min read

The Hershey Co.

HSY, +0.21%

plans to buy a maker of sweet nutrition bars for nearly $400 million, as food companies continue to target healthier snacks that provide protein. Hershey announced Tuesday afternoon that it plans to acquire One Brands LLC, which makes nutrition bars with sweet flavors such as blueberry cobbler, cinnamon roll and birthday cake. “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,” Hershey’s chief growth officer, Mary Beth West, said in a statement. The move comes less than a week after Quest Nutrition LLC, which also specializes in snack bars containing protein, was acquired for about $1 billion. Hershey said it would finance the deal with cash and short-term debt, expects it to close in the fourth quarter and be “slightly accretive” to earnings in the first full year of ownership.

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