Hershey acquires nutrition bar maker One Brands for $397m

US-based snacks company The Hershey Company has completed the acquisition of nutrition bars manufacturer One Brands for $397m.

The deal is expected to complement Hershey’s existing Oatmega business, which is part of the Amplify Snack Brands acquired last year, as well as its recent investment in Fulfil Holdings, a European manufacturer of vitamin-fortified, high-protein bars.

One Brands CEO Peter Burns said: “We are honoured to officially be a part of the Hershey family and to expand One Brands’ reach to more consumers with great tasting products that deliver on superior nutrition and texture.

“The brand has received incredible feedback since its inception, and we are thrilled to continue this momentum under the leadership of Hershey.”

Hershey intends to further enhance One Brands’ offerings by using its sales and distribution network, as well as category management and digital commerce.

Last month, Hershey signed a definitive agreement to acquire One Brands to strengthen its position in the snacking segment.

The Hershey Company chief growth officer Mary Beth West said: “One Brands is a great addition to Hershey’s growing portfolio of better-for-you snacking brands, and we are excited about getting to work with this talented team.

“As the nutrition bar category continues to grow, One offers a compelling brand proposition with great-tasting, unique flavours, low sugar and high protein.”

In August, Hershey invested in Fulfil Holdings and Blue Stripes through its venture model C7 Ventures.

C7 Ventures offers information about disruptive or emerging platforms that are focused on new technologies and go-to-market opportunities.

Fulfil is engaged in the production of nutrition bars in the UK and Ireland.