Conagra Brands concludes Angie’s Artisan Treats deal for $250m

Conagra Brands has concluded an acquisition of snack company Angie’s Artisan Treats for $250m from TPG Growth.

Originally signed last month, the deal was subject to customary closing conditions and regulatory approvals.

Founded in 2001, Angie’s Artisan Treats features the BOOMCHICKAPOP brand of ready-to-eat popcorn, which is available for purchase at natural food stores, groceries, drug stores, and mass retail locations in the US, Canada, South Korea, Peru, the Caribbean, and Mexico.

The deal is expected to complement Conagra’s snack business. BOOMCHICKAPOP is intended to support the firm’s ongoing strategy to modernise its portfolio and enhance growth.

Conagra Brands includes a variety of food products across various brands such as Marie Callender’s, Reddi-wip, Hunt’s, Healthy Choice, Slim Jim, Orville Redenbacher’s, Alexia, Blake’s, and Fronter.

In March this year, the firm expanded its portfolio with the addition of meat snacks brand Duke’s and BIGS seeds by acquiring Thanasi Foods and BIGS businesses of protein-based snack maker Thanasi.

Duke’s products such as Smoked Shorty Sausages, Steak Strips, and Brisket Strips are said to be made with fresh and whole ingredients, while BIGS snacks include roasted in-shell sunflower seeds and kernels, as well as roasted pumpkin seeds.