One Brands acquired by Hershey

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One Brands acquired by Hershey

Just on the heels of reintroducing its pumpkin pie-flavored protein bars, One Brands announced that its line of products also has a new home.

Hershey has entered into a definitive agreement to acquire the line of low-sugar and high-protein bars for a purchase price of $397 million.

“One’s portfolio of great tasting nutrition bars, with indulgent flavors such as birthday cake, maple glazed doughnut and peanut butter pie, will be a strong strategic fit within our overall innovative snacking powerhouse vision,” Mary Beth West, Hershey’s chief growth officer said. “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.”

The acquisition is expected to help the Hershey, Pa.-based company provide competitive offerings in the nutrition bar category, and complement its already existing Oatmega business, the company said.

“We’re proud of the brand we built and look forward to continuing to build on our momentum with the strength and capabilities that Hershey can provide,” Ron McAfee, the founder of One Brands, said.

The transaction is expected to close in the fourth quarter of 2019 and is subject to customary regulatory approvals and other closing conditions.

“Our consumer proposition, brand equity and team provide us with confidence, especially when combined with an industry leader like Hershey,” Peter Burns, the CEO of One Brands, said.