HERSHEY, PA. — Amplify Snack Brands, Inc., a subsidiary of The Hershey Co., on Oct. 17 completed the acquisition of the Pirate Brands business of B&G Foods, Inc. for approximately $420 million in cash.
B&G Foods said it intends to use the proceeds from the sale together with additional borrowings under its revolving credit facility to repay the entire $500.1 million principal amount of tranche B term loans outstanding under its credit facility and to pay taxes, fees and expenses related to the sale of the Pirate Brands business.
The Pirate Brands portfolio includes such brands as Pirate’s Booty, Smart Puffs and Original Tings.
The Pirate Brands business will operate as a part of the Hershey Amplify snacking unit in Austin, Texas, according to the company.
B&G Foods had owned Pirate Brands since 2013.