Pirate Brands business (Pirate’s Booty, Smart Puffs and Original Tings) acquired by The Hershey Company
The Hershey Company acquired Pirate Brands business (Pirate’s Booty, Smart Puffs and Original Tings), a US packaged snacks brand, on Oct 17, 2018.
Transaction summary
- Target
- Pirate Brands business (Pirate’s Booty, Smart Puffs and Original Tings)
- Acquirer
- The Hershey Company
- Seller
- -
- Announced
- 2018-09-12
- Geography
- United States
- Type
- Asset Purchase
- Deal type
- Control
- Stake acquired
- -
- First added
- 2026-10-04
- Latest update
- 2026-10-21
Value and multiples
100% enterprise value
USD 420M
100% enterprise value | USD
Basis: Estimated
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
EV / revenue
4.79x
Period: FY 2017
Basis: Derived from source data
EV / EBITDA
-
EBITDA basis not stated
Basis: Public source
Amounts paid and other reported values
Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.
Consideration: USD 420M
Reported cash purchase price for the specified business assets and assumed liabilities; subject to closing and post-closing adjustments based on inventory.
Basis
- The $420 million cash purchase price is used as the estimated EV; it is an asset purchase price subject to closing and post-closing inventory adjustments, and no separate EV bridge is reported. B&G Foods’ unaudited pro forma filing reports $87.705 million of Pirate Brands net sales for FY 2017 and $46.202 million for the two quarters ended June 30, 2018, which is not annualized. $420 million / $87.705 million gives approximately 4.79x FY 2017 sales by arithmetic, not a reported multiple. No EBITDA is established. The approximately $360 million net-of-tax-benefits amount is not gross consideration.
Source summary
The Hershey Company press release: Pirate Brands acquisition announcement
Confirmedtoday announced that they have entered into a definitive agreement for Hershey to acquire Pirate Brands
Open sourceThe Hershey Company Form 8-K: completion of Pirate Brands asset acquisition
ConfirmedHershey completed the acquisition of certain assets and assumption of certain liabilities
Open sourceB&G Foods unaudited pro forma condensed consolidated financial statements
ConfirmedNet sales $ 1,646,387 $ (87,705 )
Open sourceContinue your research
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