Conagra Brands to acquire Angie's Artisan Treats from TPG Growth
US-based Conagra Brands has agreed to acquire Angie's Artisan Treats, the makers of Angie's BOOMCHICKAPOP ready-to-eat popcorn, from TPG Growth.
Financial terms of the deal were not disclosed by either company.
Conagra Brands president and chief executive officer Sean Connolly said: "Adding the Angie's BOOMCHICKAPOP brand to Conagra's portfolio is another important step in our ongoing plan to modernise our portfolio and accelerate growth.
"The Angie's BOOMCHICKAPOP business is a leader in the fast-growing, better-for-you snacking segment. It will be a great complement to our growing snack business.
"We are looking forward to working together to grow the brand and create value for our shareholders."
Subject to customary closing conditions, the transaction is expected to be closed by the end of this year.
Founded by Dan and Angie Bastian in 2001, the Angie's BOOMCHICKAPOP brand features a wide range of ready-to-eat popcorn products that are available across natural food, grocery, club, drug and mass retail outlets.
Angie's BOOMCHICKAPOP is also exported to Canada, South Korea, Peru, the Caribbean and Mexico.
Angie's Artisan Treats chief executive officer Mark Zurcher said: "The Angie's BOOMCHICKAPOP business has achieved exceptional growth through great teamwork between our team, Angie and Dan Bastian, our founders, as well as support from TPG Growth."