HERSHEY, PA. — The Hershey Co. has completed the acquisition of One Brands, L.L.C., a maker of low-sugar, high-protein nutrition bars, for $397 million, or approximately $325 million net of tax benefits. The company expects the transaction to be slightly accretive to earnings the first full year after closing.

“One Brands is a great addition to Hershey’s growing portfolio of better-for-you snacking brands, and we are excited about getting to work with this talented team,” said Mary Beth West, chief growth officer for the Hershey Co. “As the nutrition bar category continues to grow, One offers a compelling brand proposition with great-tasting, unique flavors, low sugar and high protein.”

Founded in 1999, One Brands, Charlotte, N.C., features a portfolio of nutrition bars that contain 20 grams of protein and contain 1 gram of sugar per bar. The bars are certified gluten-free and come in flavors such as pumpkin pie, cinnamon roll, chocolate chip cookie dough and white chocolate truffle. One Brands also markets a line of bars sweetened with stevia called One Basix.

At Natural Products Expo East, held Sept. 12-14 in Baltimore, the company unveiled One Plant, a range of plant-based bars with 12 grams of protein and 1 gram of sugar. Varieties include chocolate peanut butter and banana nut bread.