The Hershey Co. has agreed to pay $420 million for Pirate Brands, which makes Pirate's Booty and Smart Puffs, to increase its presence in the snack-food aisle.

Pirate Brands will operate as part of Hershey's Amplify better-for-year snack unit, which is based in Austin, Texas, Hershey said. Hershey completed the $1.6 billion acquisition of Amplify, whose best-known for SkinnyPop popcorn, in January.

"Pirate's Booty is a leading cheese puffs brand loved by moms and kids as a better-for-you treat," said Mary Beth West, Hershey's chief growth officer. "We expect the full Pirate Brands portfolio to be a great fit for Hershey's growing Amplify business which is targeted toward consumers who are looking for great-tasting snacks without compromise."

The seller of Pirate Brands was B&B Foods Inc., of Parsippany, N.J., which paid $195 million for the business in 2013.