(RTTNews) - The Hershey Company (HSY) has agreed to acquire Dot's Pretzels LLC, the owner of Dot's Homestyle Pretzels. The company also has agreed to acquire Pretzels Inc. from an affiliate of Peak Rock Capital. Based in Bluffton, Indiana, Pretzels Inc. is a co-manufacturer of pretzels for Dot's Pretzels and several other customers.
"As the fastest growing U.S. pretzel brand, Dot's Pretzels would further accelerate our success in the permissible salty snack category, along with our successful SkinnyPop and Pirate's Booty brands," said Michele Buck, Hershey CEO.
The total purchase price for the two proposed acquisitions is approximately $1.2 billion, or approximately $1 billion of investment net of expected future tax benefits. The company expects the acquisitions to be slightly accretive to reported earnings per share in 2023 and adjusted earnings per share in 2022.
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