IPO of the Week: Hershey

Hershey

Founded in 1894 as the Hershey Chocolate Company, Hershey is a global confectionery manufacturer specializes in chocolate. Hershey offers a wide variety of product include chocolate and non-chocolate sweets, gum and min refreshment products, pantry items and snacks.

Founded in 2010, Amplify Snack Brands is a snack food company known for its Skinny Pop popcorn brand.

On 8/5/2015, Amplify Snack Brands, Inc  launched on NYSE led by Goldman Sachs and Credit Suisse. The stock was priced at $18.00 per share, above its expected price range of $14.00 – $16.00/share. With a full subscription of 15.0 million shares offered by the selling stockholders, the company was valued at $1.35 billion at offer. Amplify Snack Brands opened at $17.00/share, a -5.56% dive and closed down at $16.14/share with a -10.33% initial return. Amplify Snack Brands entered the IPOX® Universe on the 7^th day of trading.

The Hershey Company announced to buy Amplify Snack Brands Inc for $1.6 billion on 12/18/2017. The deal valued Amplify at $12.00 per share, which represented a 71.43% premium to its previous close. The acquisition of Amplify Snack Brands Inc was completed on 1/31/2018 and The Hershey Company was included in the IPOX® 100 U.S. Portfolio on 9/14/2018 and currently weighs approximately 2.55% of the portfolio.