Hershey nears US$1.6b deal to buy Amplify Snacks: CNBC

Hershey Co, the maker of Reese's Peanut Butter Cups and Hershey's Kisses, is nearing a deal to buy SkinnyPop parent Amplify Snack Brands for US$1.6 billion, CNBC reported on Monday.

The deal, which could be announced as early as Monday, would value Amplify at US$12 a share, a 71 per cent premium to Friday's closing price, CNBC added, citing sources familiar with the matter.

Global food manufacturers have been struggling with weakening growth as consumers seek healthier foods. Pennsylvania-based Hershey has been boosting its portfolio in snacks, which are typically lower-margin products than candy.

Just over a year ago, The US candy maker had spurned a US$107 per share takeover offer from Mondelez.

Hershey's and Amplify were not immediately available for comment outside regular US business hours.

REUTERS