Conagra Brands has announced it has acquired Angie’s Artisan Treats, the maker of Angie’s Boomchickapop ready-to-eat popcorn, from private equity firm TPG Growth.
Financial terms were not disclosed and the transaction is expected to close by the end of the year. The gluten-free, non-GMO popcorn was rebranded from Angie’s to Angie’s Boomchickapop in 2012.
It was founded by husband and wife entrepreneurs Dan and Angie Bastian in 2001. They said that Conagra is the ‘perfect fit’ to take their business ‘to the next level’.
The brand features more than a dozen varieties of ready-to-eat popcorn. As well as its presence in the US, its products are available in, Canada, South Korea, Peru, the Caribbean and Mexico.
Conagra Brands CEO Sean Connolly said the deal is an important step in the company’s plan to ‘modernise our portfolio and accelerate growth’.
“The Angie’s Boomchikapop business is a leader in the fast-growing, better-for-you snacking segment,” he said. “It will be a great complement to our growing snack business. We are looking forward to working together to grow the brand and create value for our shareholders.”
Angie’s Artisan Treats CEO Mark Zurcher added: “The Angie’s Boomchickapop business has achieved exceptional growth through great teamwork between our team, Angie and Dan Bastian, our founders, as well as support from TPG Growth.
“The business has thrived, but is still in the early innings of realising its full potential. The goal from the beginning has been to make real connections with more consumers by bringing them our positive energy, bold flavors, whole grain goodness and authentic live out loud attitude.
“We are confident that the Angie’s Boomchickapop business will continue to expand its reach as a part of Conagra Brands.”
Source: FoodBev.com
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