US nut maker Diamond Foods has sealed its acquisition of popcorn business Pop Secret from General Mills.
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The US$190m deal was announced last month but Diamond said yesterday (15 September) that it had finalised the agreement to buy the business.
Pop Secret is the second-largest microwavable popcorn maker in the US, accounting for 25% of sales in the country’s food stores, Diamond said.
The deal was part-funded by a new, five-year credit facility worth $250m, which replaces Diamond’s previous credit facilities.
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