Last week, The Hershey Company (HSY) inked a deal to buy Pirate Brands from B&G Foods (BGS) for a cool $420 mil. One of the more popular items owned by Pirate Brands was Pirates Booty, which is made out to be a healthier brand of cheese puff. The food and beverage industry has seen quite a bit of consolidation as certain companies whose offering have been sugared drinks and junk food snacks try to keep up with the shift to healthier eating.

Pirate Brands was one of B&G Foods top five brands along with Green Giant, Cream of Wheat, Weber and Skinny Girl. I suppose the price had to be right to let the line go for $420 million. The brand has been growing steadily and was acquired in 2013 for $195 million. A $225 million gross profit in five can’t be anything other than shareholder friendly.

These types of purchases fly under the radar with the multi billion dollar deals that have been floated out there recently. $420 million, though, that’s a lot of cheese puffs! Who’d have thought…

DISCLOSURE: This article has been written for informational purposes only and is not a recommendation to buy or sell any securities. This is not intended to be investment advice and should not be relied upon as such. Perform your own due diligence to determine the appropriate investments for your situation or consult a qualified professional.