Arca Continental, parent company of Wise Snacks, has acquired Deep River Snacks. Financial terms of the transaction were not disclosed.
With annual sales of approximately $45 million, Deep River, Conn.-based Deep River Snacks manufactures premium better-for-you snacks, including kettle cooked potato chips, baked crisps, popcorn and Honchos organic seasoned tortilla chips. The company’s product portfolio is made with non-G.M.O. ingredients, certified gluten-free, vegetarian, kosher, nut-free and cooked exclusively in sunflower oil.
Additionally, Deep River Snacks’ product packaging features charities that have impacted employees of the company, which helps “shine light on the organizations on which we had come to rely,” the web site says. Deep River donates 10% of its profits to these and other charities.
“When I started Deep River Snacks 15 years ago, I wanted to prove that a business could be both successful and philanthropic,” said Jim Goldberg, founder and chief executive officer of Deep River Snacks, in a statement to the company’s customers. “Through our mantra, ‘Because We Give a Chip’, we’ve created the best tasting snacks using real, non-G.M.O. ingredients. But Deep River Snacks has become so much more than a bag of chips. The brand has become a platform to raise awareness for the organizations that have touched the lives of my family, friends and co-workers. We’ll never stop giving a chip and now, with Arca’s backing, we’ll be able to have an even bigger impact in communities across America.”
Arca Continental, which is also the second largest Coca-Cola bottler in Latin America, will add Deep River Snacks to its portfolio of U.S. snack brands, including Wise Snacks, Si Senor and La Abeja. Arca is also the parent company of Bokados snacks in Mexico and Inalecsa snacks in Ecuador.
“This acquisition broadens the process of diversification and complementarity of the snacks portfolio for the U.S. consumer with innovative products and in differentiated segments, allowing us to better serve our customers and enhance the development of our brands,” said Francisco Garza Egloff, c.e.o. of Arca Continental.
By Rebekah Schouten
Source: Food Business News
Paine Schwartz Partners has closed on a Paine Schwartz Food Chain Fund VI, L.P. at $1.7 billion. The fund is aimed at investing in the food and agribusiness value chain. The company has invested about 40% of Fund VI in AgroFresh Solutions, Costa Group, Elemental Enzymes, HGS BioScience and Monterey Mushrooms.
After 26 years in Geneva, Switzerland, the decision to move has been made after visitor and exhibitor feedback, as well as growth plans for the Vitafoods brand. Vitafoods Europe 2025 will be held on 20-22 May 2025 at Fira Barcelona, with more details to be announced next year.
The traditional symbol of family reunion and cultural pastry of Asia is undergoing a reinvention. With the majority of young consumers in Asia expressing an increasing interest in healthier options, a growing market for mooncakes tailored to dietary preferences and restrictions is opening up across the globe.
