Diamond Foods Acquires Stake in UK Popcorn Business
US-based snack food manufacturer Diamond Foods has acquired a 26% stake in Metcalfe’s skinny, owner of Metcalfe’s skinny Popcorn, a premium ready-to-eat popcorn brand in the UK with a mission to provide better-for-you snack alternatives to consumers. Metcalfe’s skinny markets its branded range of products in the fast-growing better-for-you snack and popcorn categories, predominantly in the UK. The Metcalfe’s skinny existing management team will continue to operate the company as an independent subsidiary.
Diamond Foods sells its products under five different widely-recognized brand names: Diamond of California®, Kettle Brand® and KETTLE® Chips, Emerald® and Pop Secret®.
“We are very excited to acquire an interest in Metcalfe’s skinny, which is an incredibly innovative, fast-growing, premium brand appealing to ‘foodie’ consumers looking for lighter great tasting snacks,” says Ashley Hicks, managing director of KETTLE® Chips UK. “We look forward to working with the management team to support their future growth ambitions in the on-trend, high growth popcorn snack category in the UK.”
Diamond is financing the investment through cash on-hand.
