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Snyder's-Lance buys remaining 74% stake in UK popcorn brand Metcalfe's skinny

FBR Staff Writer Published 02 September 2016

US-based snack maker Snyder's-Lance has announced that its subsidiary Kettle Foods will acquire the remaining 74% stake in Metcalfe's skinny.

However, the financial details of the transaction were not disclosed.

In January, Kettle Foods had initially acquired a 26% stake in the UK premium popcorn brand Metcalfe's.

The acquisition reflects Kettle Foods' ambition to evolve into a more widely based premium snacking major in Europe.  

Snyder's-Lance president and chief executive officer Carl E. Lee, Jr. said: “We see tremendous growth in the UK with additional opportunities for further international expansion for our innovative collection of snacking brands. 

“This addition to our branded portfolio provides us with another better-for-you option in a growth snacking category in the European markets, and we look forward to supporting the continued success of the Metcalfe's skinny brands."

Metcalfe's portfolio also includes a fast growing range of corn and rice cake products.

The full range comprises Metcalfe's skinny Popcorn, Metcalfe's skinny Popcorn Crisps, Metcalfe's skinny Popcorn Thins and Metcalfe's skinny Ricecakes.

Kettle Foods managing director Ashley Hicks said: “Metcalfe's skinny popcorn® is an incredibly innovative premium brand that has built a strong foundation in the UK market.  

“We now have the opportunity to extend the brand's success story with further innovation and brand development, and as a result, drive even stronger growth in this exciting category."

Headquartered in Charlotte, North Carolina, Snyder's-Lance produces and markets snack foods throughout the US and internationally.

Its products include pretzels, sandwich crackers, pretzel crackers, potato chips, cookies, tortilla chips, restaurant style crackers, popcorn, nuts and other snacks.

In March, the company completed the $1.91bn acquisition of Diamond Foods, the maker of Emerald almonds and Kettle potato chips.


Image: Snyder's-Lance buys remaining 74% stake in UK popcorn brand Metcalfe's skinny. Photo courtesy of Snyder's-Lance.