Conagra Brands agrees to acquire Thanasi Foods and BIGS
US-based food company Conagra Brands has entered a definitive agreement to acquire protein-based snacking businesses Thanasi Foods (Thanasi) and BIGS.
The companies did not disclose financial details of the transaction.
The transaction is expected to close later this year and subject to customary closing conditions, including the receipt of regulatory approval .
Conagra Brands president and chief executive officer 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."
Conagra Brands currently manages the Slim Jim and the DAVID Seeds brands.
Duke's offers a wide range of meat snacks, including Duke's Smoked Shorty Sausages and Duke's Steak & Brisket Strips.
BIGS manufactures seed snacks such as jumbo in-shell sunflower seeds, sunflower seed kernels and roasted pumpkin seeds.
Duke's and BIGS founder and chief executive officer 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 recognised in households across the US.
“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.
“The Conagra Brands team values our brand beliefs and is committed to continuing to use quality ingredients and the craft methods that deliver the creativity and flavour our consumers and fans love today.”
Upon completion of the transaction, Duke's and BIGS will continue operating out of Boulder, Colorado.
Image: Heap of pumpkin seeds. Photo: courtesy of nalinratphi via freedigitalphotos.net.