This morning we successfully closed Hershey’s acquisition of Amplify. On behalf of everyone at Hershey, I want to welcome our new Amplify colleagues to this special company. You have built powerful brands that consumers love and, together, we have a tremendous opportunity ahead of us to learn from one another and leverage the strengths of being big and small to continue to win in the marketplace.
Today marks a significant step towards Hershey’s vision of becoming an innovative snacking powerhouse. Together, our goal is to continue to build on Amplify’s tremendous success in better-for-you snacking by furthering the mission of bringing consumers great-tasting snacks made with the best ingredients possible.
Beginning today, this business will be known as Amplify Snack Brands, a division of Hershey. It will remain in Austin, Texas and be operated autonomously. This means that it will be both 100% integrated and 100% independent. In other words, all the assets and resources of Hershey are available to the Amplify team, however, it will be at their discretion as to if, and when, they reach for those services. We have aggressive 2018 plans already in place and we must remain focused on delivering the goals and objectives we’ve set. Planning discussions are underway for those select areas where Hershey’s expertise and capability-building is most needed to further accelerate Amplify’s growth. Everyone else, across both Amplify and the broader Hershey organization, should continue to focus on their established 2018 priorities. We also are committed to understanding and supporting Amplify’ s organizational culture and providing broader opportunities to learn and grow. Our hope is over the next year, our team will learn from one another to bring forward the best within our new organization.
As we move forward, I want to stress the importance of focusing on the work ahead of us. I have the highest confidence in Tom and the Amplify leadership team to continue to drive success in the marketplace. The Amplify Team has created brands loved by consumers and an organization that is nimble, passionate and committed to winning in the market. That is a legacy we are all committed to continuing.
We have a lot of work and change ahead of us but I know that you are up for that challenge. Please keep the dialogue open and raise questions along the way. This is an incredible opportunity for our company. Hershey is more than 120-years old because we’ve changed and adapted to meet the needs of our consumers. We’ve stayed true to our values – caring about one another, doing the right thing, delighting our consumers and working in partnership with our customers. These values are shared across our new organization and I could not be more confident in what we are building together and the success that lies ahead for us.