Sector News

Diamond Foods announces minority stake in Metcalfe's Skinny

January 12, 2016
Food & Drink

Diamond Foods, Inc., a snack food and culinary nut company, announced on Monday it has acquired a 26 percent stake in Metcalfe’s Skinny Limited.

Metcalfe’s Skinny is the owner of ‘skinny Popcorn’, a maker of premium ready-to-eat “better-for-you” popcorn and snacks.

Diamond Foods noted that Metcalfe’s Skinny markets its products in the “fast growing” wellness segment, predominantly in the UK.

“We are very excited to acquire an interest in Metcalfe’s skinny, which is an incredibly innovative, fast-growing, premium brand appealing to ‘foodie’ consumers looking for lighter great tasting snacks,” said Ashley Hicks, Managing Director of KETTLE® Chips UK, a division of Diamond Foods.

Shares of Diamond Foods have gained more than 45 percent over the past year.

By Jayson Derrick

Source: Benzinga

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