Hershey Buys Amplify in $1.2 Billion Deal for Snack Maker

The Hershey Co. is venturing into the health snack aisle with the announcement that the chocolate and candy maker is acquiring Amplify Snack Brands for $1.2 billion. 

The boards of both companies have agreed on the deal in which Hershey will acquire all outstanding stock of Amplify for $12 per share in cash. The deal is expected to close in the first quarter of 2018.

Amplify, which makes Skinny Pop popcorn, Tyrrells potato chips and Oatmega protein bars, was founded in 2014 and is based in Austin, Texas. The company has about 600 employees.

Shares in Amplify, which closed at $7 on Friday, jumped more than 70 percent, to nearly $12, in premarket trading on news of the deal.

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