Hershey to Acquire SkinnyPop Owner Amplify for $921 Million

Hershey Co. is expanding further beyond chocolate, agreeing to buy the owner of SkinnyPop popcorn and Tyrrell’s potato chips for $921 million.

The U.S. candy giant agreed to buy Amplify Snack Brands Inc. for $12 a share, a 71 percent premium to a Dec. 15 closing price. The company has about $600 million in debt and has seen its stock value dive since it went public in 2015.

Hershey’s move signals the intent of new Chief Executive Officer Michele Buck to lead consolidation in the snacks industry after the maker of Kisses candy rejected a takeover bid from Oreo maker ...