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Campbell Soup and Hershey’s Make Billion-Dollar Acquisitions
‘Tis the season of soup and sweets, but these companies are looking at snacks! Campbell Soup Company is acquiring Snyder’s-Lance for almost $5 billion, and the Hershey Company is buying Amplify Snack Brands for about $1.6 billion. Both acquisitions center around snacking, a booming part of the consumer packaged goods industry, as more than 90% of Americans eat at least one snack per day.
Now, the Big Food companies are starting to take over because of its dominance. For Campbell, the Snyder’s-Lance deal will make up nearly half of the company’s net sales. With its declining soup sales, the snacks could help bring back growth. For Hershey’s, the deal will help the company further diversify its goods outside of solely chocolate. The company moved in this direction in 2015, with its acquisition of Krave jerky.
Within the consumer packaged foods industry, snacking companies are at the top of the list, representing massive growth spurred by the eating habits of the nation.
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