Sector News

Diamond Foods Announces Acquisition of a Majority Interest in Yellow Chips

February 5, 2015
Food & Drink
(GLOBE NEWSWIRE) – Diamond Foods, Inc. today announced that it has acquired a 51% stake of Yellow Chips, a manufacturer of high quality vegetable and organic potato chips based in the Netherlands.
 
Yellow Chips markets its products under private labels and as its own premium brand, Go Pure®, in Europe. Yellow Chips currently produces Kettle Brand® Vegetable Chips for Diamond. Following the acquisition, Yellow Chips’ existing management team will continue to operate the company as an independent subsidiary.
 
Brian Driscoll, Diamond’s President and Chief Executive Officer said, “We are excited to acquire an interest in Yellow Chips, which enables us to better compete in the on-trend, high growth vegetable chip category in the UK and Europe. We are pleased to welcome the Yellow Chip team, which has done an outstanding job creating a high quality product for us.”
“We look forward to working closely with the Yellow Chips team to expand European sales and increase distribution in the UK,” said Dominic Lowe, Managing Director of Kettle Chips UK.
 
Vincent van Gorkom, one of the founders of Yellow Chips and a member of its management team commented, “We’ve been working closely with Diamond over the past several months, and we’re excited to join the team. We will benefit from Diamond’s scale, marketing expertise, and distribution network, and look forward to expanding awareness of our products and increasing market penetration in the UK and Europe.”
 
Diamond is financing the acquisition through cash on-hand.
 
Source: Diamond Foods

Related News

September 25, 2020

Record investments made in fermentation companies this year

Food & Drink

A record $435 million was invested in alternative protein fermentation companies in the first seven months of 2020, according to data by The Good Food Institute (GFI). To date, GMI’s […]

September 24, 2020

Coca-Cola European Partners reaches major sustainability milestone as 50% of plastic used in core portfolio is now from recycled sources

Food & Drink

Coca-Cola European Partners (CCEP), in partnership with Coca-Cola Great Britain, today announces that all plastic bottles across all its core brands made in Great Britain are now made with 50% […]

September 24, 2020

Unilever and Google partner in finding sustainable sources

Food & Drink

Unilever has teamed up with Google Cloud in a programme that combines cloud computing with satellite imagery and AI to improve its product sourcing strategy. Together, the companies will first focus […]