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Kekst CNC represents Peak Rock Capital as the Austin-based private equity firm sells its Pretzels Inc., pretzel manufacturing outfit, to Hershey Co.
Pretzels Inc. makes and distributes traditional, peanut butter-filled, flavored and seasonal pretzels, as well as and other snack products, to grocers and to national brands.
It produces Dot’s Pretzels, which also is being acquired by the candymaker as part of “advancing Hershey’s snacking powerhouse vision.”
Hershey’s CEO Michele Buck said acquiring Pretzels Inc will expand the company’s snacking and production capabilities while keeping the special connection to Dot’s.
Hershey’s is shelling out$1.2B to acquire the two companies, which generated $275M in annual sales for the fiscal year ended September 30.
Kekst CNC has Daniel Yunger, Hallie Wolff and Emma Cloyd working the Peak Rock Capital business.
Publicis Groupe owns Kekst CNC.
C Street Advisory handles iRobot Corp as the marketer of the Roomba autonomous vacuum cleaner files Chapter 11 after being squeezed by cheaper competitors.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group and Gagnier Communications are handling Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
