US snack manufacturer Diamond Foods said yesterday (10 March) that it will raise funds of US$181.4m in a secondary offering to finance its acquisition of upmarket crisp maker Kettle Foods.

Diamond announced plans to acquire Kettle for $615m last month.

The company, whose brands include Emeral nuts and PopSecret popcorn, said the underwriters exercised their over allotment option to acquire 675,000 shares, bringing the total shares issued to just under 5.2m.

Barclays Capital, Bank of America Merrill Lynch and BMO Capital Markets acted as joint book-running managers for the offering.