Eagle Foods of the US has expanded its footprint in the snacks market with the completion of the purchase of Popcorn, Indiana.
The Richfield, Ohio-based company announced the closing of the deal in a statement yesterday (29 August), without disclosing the financial details.
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Eagle Foods, which is majority-owned by private-equity firm Kelso & Co, said the acquisition will increase its presence in the ready-to-eat popcorn category, which has been growing at an annual rate of 5% to 6%.
The transaction by the maker of the G.H. Cretors brand of popcorn and a range of evaporated milks, also adds Popcorn, Indiana’s Hi I’m Skinny veggie sticks to its product mix, as well as its Kettlecorn and Black & White Drizzlecorn.
Eagle Foods’ CEO Paul Smucker Wagstaff said of the deal: “Our acquisition of Popcorn, Indiana soundly demonstrates Eagle Foods’ commitment to expanding our product offerings to best meet the needs of our customers and consumers. We are excited to continue to grow the Eagle Brands platform both organically and through strategic acquisitions.”
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