Diamond Foods, the US nut and snacks company, has announced the purchase of a 26% stake in UK-based popcorn manufacturer Metcalfe’s Skinny, financing the acquisition through cash on-hand.
Metcalfe’s Skinny, whose current management board will continue to operate independently of Diamond Foods, is known for its ready-to-eat popcorn portfolio and other ‘better-for-you snacks’, primarily in the UK.
In relation to the deal, Kettle Chips UK managing director Ashley Hicks said: “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. 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”.
Metcalfe’s Skinny was founded in 2009 by Julian Metcalfe. Its brand assortment includes Metcalfe’s Skinny Popcorn Crisps, Metcalfe’s Skinny Popcorns Thins and Metcalfe’s Skinny Ricecakes.
Source: Diamond Foods