Should Investors Snack on Packaged-Food Stocks?
M&A activity is heating up in sector. Here's where investors can find opportunity.
Market Update
Mentioned: Post Holdings Inc (POST)
, The Kraft Heinz Co (KHC)
, Amplify Snack Brands Inc (BETR)
, Invesco Corporate Bond A (ACCBX)
, Berkshire Hathaway Inc (BRK.A)
, Amazon.com Inc (AMZN)
, Snyder's-Lance Inc (LNCE)
, Walmart Inc (WMT)
, Hormel Foods Corp (HRL)
, Campbell Soup Co (CPB)
Just as investors started heading out for their holiday breaks, Campbell Soup (CPB) made its largest acquisition in the company's 148-year history, buying snack food company Snyder's-Lance (LNCE) for $6 billion.
That same day, Hershey (HSY) announced it was buying Amplify Snack Brands (BETR), maker of the second-leading ready-to-eat popcorn brand Skinny Pop, for $1.6 billion.
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Bryan Borzykowski does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.