General Mills has snapped up US-based meat snacks company Epic Provisions, the group’s second acquisition in two weeks.
Epic sells bars made with meat, fruit and nuts, with General Mills claiming the business had “created a new snacking category”. The range includes a beef, habanero and cherry bar and a pulled pork pineapple line. The products are primarily sold in US natural stores including Whole Foods and Sprouts Farmers Markets. Terms of the deal were not disclosed.
Texas-based Epic will operate under General Mills’ natural and organic business Annie’s business. “The acquisition of Epic positions General Mills for exciting growth with a highly authentic brand in an entirely new natural snacking category,” said John Foraker, president of Annie’s. “A purpose-driven brand like Epic perfectly aligns with the experience and capabilities set that Annie’s brings to the table. Epic has tremendous potential for growth in the natural snacking category.”
Epic founders Taylor Collins and Katie Forrest will continue to work with the business. In a joint statement, they said: “We’re proud of the rapid growth Epic Provisions has achieved during the past three years. Our decision to join General Mills provides Epic with the scale to bring our products to even more consumers, and to significantly increase the positive impact of our business on grassland regeneration and proper livestock management practices. We look forward to working with Annie’s and General Mills to continue this momentum and to build upon the authenticity of the brand we created.”
In a move becoming increasingly common when a fledgling company is taken over by a US major, Collins and Forrest posted a message on social media explaining the decision to sell. It can be found here.
Faced with stagnant sales in the US, General Mills is looking to inject growth into its business and has made two acquisitions in a fortnight. Just before Christmas, General Mills announced the acquisition of Brazilian yoghurt business Carolina Administracao e Participacoes Societarias.