US: Diamond raises US$180m in secondary offering
By: just-food.com | 11 March 2010
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.
Companies: Diamond Foods
View next/previous articles
11 Mar 2010 -
Currently reading -
US: Diamond raises US$180m in secondary offering
11 Mar 2010 -
Related research
This new report covers all segments of the diverse packaged snack food industry, from salty to sweet and everything in between, examining market trends and recent industry developments. It also profiles leading companies including those involved in ...
Representing a wide variety of foods, the market for healthy snacks was valued at $29 billion in 2008. Sales grew by 17% from 2003-08 but there was zero growth in sales at inflation-adjusted prices. This report addresses issues of key concern to manu...
Related articles
US: Diamond Foods plans aggressive growth
The CEO of US food manufacturer Diamond Foods said he is expecting net income to grow 20% on average each year over the next five years.
There are currently no comments on this article
Be the first to comment on this article