Conagra Brands to acquire meat and seed snack firm Thanasi Foods
American food giant Conagra Brands has agreed to acquire Thanasi Foods, which makes Duke's meat snacks and BIGS seeds.
The financial terms of the transaction were not disclosed by the parties.
Based in Colorado, Thanasi Foods is a small manufacturer and distributor of packaged snack foods.
Conagra Brands president and CEO Sean Connolly said: "These on-trend brands extend our meat snacks and seeds businesses into faster-growing, more premium segments.
“We are looking forward to working with the Thanasi team to grow the brands further and create value for our shareholders."
The Duke's meat snack portfolio comprises Duke's Smoked Shorty Sausages and Duke's Steak & Brisket Strips.
Its product range is said to be manufactured in small batches with better hardwood smoke pairings and quality ingredients.
On the other hand, Bigs manufactures a range of premium seed snacks. Its portfolio includes roasted pumpkin seeds, sunflower seed kernels and jumbo in-shell sunflower seeds and.
Upon closing of the deal, the Duke's and Bigs brands will continue to be manufactured in Boulder, Colorado.
Conagra Brands already has meat and seeds snack brands in Slim Jim meat stick and the David Seeds brands respectively.
Duke's and Bigs founder and CEO Justin Havlick said: "What started 13 years ago as a simple passion for fire roasting seeds and slow smoking meats, has grown into two terrific brands that are recognized in households across the US.
“This is an incredibly exciting time for our brands and our team, and we are looking forward to working with the Conagra Brands team on the next chapter in our journey to take Duke's and BIGS to another level.”
Subject to customary closing conditions, the acquisition which would also have to meet regulatory approval is likely to be completed in summer.
Image: Duke’s Smoked Meats with new look and new additions launched in August 2016. Photo: courtesy of THANASI FOODS.