Sector News

Snyder’s-Lance buys British popcorn maker

September 2, 2016
Food & Drink

Charlotte-based Snyder’s-Lance has purchased the remaining interest in a British popcorn maker called Metcalfe’s skinny Limited.

The deal is Snyder’s-Lance’s latest push into the “better-for-you” snack category that also seeks to take advantage of a fast-growing European snack segment.

In a statement Thursday, Snyder’s said Metcalfe’s is the U.K.’s premium popcorn brand that also makes a variety of corn and rice cakes. The U.K. popcorn market has grown by 45 percent over the last two years, Snyder’s said.

Kettle Foods, a subsidiary of Snyder’s, acquired a 26 percent stake in Metcalfe’s earlier this year. In the most recent deal, Snyder’s purchased the remaining 74 percent.

Terms of the deal were not disclosed.

“This addition to our branded portfolio provides us with another better-for-you option in a growth snacking category in the European markets, and we look forward to supporting the continued success of the Metcalfe’s skinny brands,” Snyder’s-Lance CEO Carl Lee said.

Snyder’s most recent major “better-for-you” deal was its $1.91 billion purchase of Diamond Foods, the San Francisco snack maker of products like Kettle Brand chips, Pop Secret popcorn and Emerald snack nuts.

London-based Metcalfe’s was founded in 2009 by Julian Metcalfe, the co-founder of the popular restaurant chain Pret A Manger.

By Katherine Peralta

Source: Charlotte Observer

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