Hershey Co, the maker of Reese's Peanut Butter Cups and Hershey's Kisses, is nearing a deal to buy SkinnyPop parent Amplify Snack Brands for $1.6 billion, CNBC reported on Monday.

The deal would value Amplify at $12 a share, CNBC also reported, citing sources familiar with the matter. (http://cnb.cx/2B8L0eI)

Hershey's and Amplify were not immediately available for comment outside regular U.S. business hours.

(Reporting by Parikshit Mishra in Bengaluru; Editing by Sunil Nair)

Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.

Delivered twice a week, straight to your inbox.