Sector News

Chaucer: Investment in Crunchies Food Company, USA

October 28, 2014
Food & Drink
(BUSINESS WIRE) – Chaucer, a global producer of specialist food ingredients and products, is pleased to announce it has entered into an agreement to acquire 65% of Crunchies Food Company, (“Crunchies”) the leading USA freeze dried brand.
 
The investment is reflective of Chaucer’s increasing momentum in the rapidly growing US freeze dried market, and the expansion of its freeze dried offering direct to consumers. In addition, Crunchies will provide Chaucer with a strong platform from which to expand in the rapidly growing US and global Freeze Dried market, and will diversify Chaucer’s operations to the effect it will control the product’s route to the consumer market and supply chain in the US markets.
 
The award winning Crunchies brand has experienced strong, double digit growth within the last year alone, and successfully taps into the growing market of health conscious consumers seeking a healthy, nutritious snack option. Crunchies is now the leading brand in freeze dried snacking in the US by sales, as confirmed by Nielson in May 2014.
 
Since its inception in 2005, Crunchies has established strong supplier relationships, distributor relationships and is sold across the North American market through high profile grocers including Walmart, Costco and Whole Foods. The investment provides Crunchies with access to Chaucer’s significant global reach and marketing/sales leverage to continue its growth trajectory.
 
Andy Ducker, CEO of Chaucer commented:
 
“We are delighted to announce our strategic investment in Crunchies, which illustrates Chaucer’s wider corporate strategy to become a truly global, market leading specialist food ingredient and consumer products producer.
 
“We are confident that with our operational expertise and investment, the already successful Crunchies brand will develop to its full potential in the US and maximize its opportunities in the growing Freeze Dried markets. In addition, the combination of the Crunchies and Chaucer companies will provide Chaucer with increased visibility and exposure to customers and suppliers in the North American markets.”
 
Source: Chaucer Foods

Related News

September 21, 2020

Alpro announces 30m euro investment and new sustainability goals

Food & Drink

Alpro has unveiled a new five-year health and sustainability action plan, as well as plans to invest €30m in two of its production sites. The objectives laid out by the company, […]

September 18, 2020

Cargill to advance regenerative agriculture practices across 10m acres of farmland

Food & Drink

Cargill has announced that it is supporting farmer-led efforts to adopt regenerative agriculture practices on 10 million acres of crop land in North America by 2030. The initiative will focus primarily […]

September 17, 2020

PepsiCo pilots invisible digital watermark technology to boost recycling

Food & Drink

PepsiCo is trialling products encoded with invisible digital watermarks for more effective recycling. The technology is pegged as the “holy grail” that will make mechanical sorting more efficient. The beverage […]