Diamond Foods announced this morning (1 March) that it has started a share offer to fund its acquisition of Kettle Foods.

The US nut maker plans to offer 4.5m shares of its common stock to help pay for the acquisition of Kettle Foods from Lion Capital. Diamond said last week that it would pay US$615m for the premium chip maker.

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

The company also revealed that it will grant the underwriters an option to purchase up to 675,000 additional shares, on the same terms and conditions, to cover overallotments, if any.

Diamond added that if it does not consummate the acquisition of Kettle Foods, it intends to use the net proceeds for general corporate purposes, including repayment of indebtedness.

Barclays Capital, BofA Merrill Lynch and BMO Capital Markets are joint book running managers for the offering.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Nominations Closed

Nominations are now closed for the Just Food Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Winning five categories in the 2025 Just Food Excellence Awards, Centric Software is setting the pace for digital transformation in food and FMCG. Explore how its integrated PLM and PXM suite delivers faster launches, smarter compliance and data-driven growth for complex, multi-channel product portfolios.

Discover the Impact