The US premium crisp (potato chip) maker Kettle Foods has agreed to be bought by UK buyout firm Lion Capital for an undisclosed sum.
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Lion is acquiring the company in a private transaction which, conditional upon regulatory approval, is expected to close in the next 30 days.
Founded in Salem, Oregon, in 1978, Kettle Foods was an early mover in the premium hand-cooked crisp sector. It is expected to generate sales in the region of US$150m this year, London-based Lion Capital said today (9 August) in a statement.
“Kettle Foods has built a beloved consumer brand with significant loyalty and opportunity for growth,” Lyndon Lea, founding partner of Lion Capital, said in the statement. “As a leader in the premium and natural segments of the snacks market, Kettle is capitalising on consumers’ trend toward ‘healthier’ eating through product innovation.”
Lion already owns the Wagamama chain of noodle bars in the UK, as well as cereal maker Weetabix and other non-food interests. It is reported to be in the frame to bid for part of United Biscuits, in partnership with Premier Foods.
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By GlobalDataIt was previously known as Hicks Muse (Europe) before it split away from US buyout firm Hicks, Muse, Tate & Furst two years ago.
