SkinnyPop Partners With TA Associates
Former Oberto Brands CEO Ennis joins executive team
BOSTON -- Private-equity firm TA Associates has announced a partnership with SkinnyPop Popcorn LLC founders Pam Netzky and Andy Friedman and food entrepreneur Jason Cohen to further build the brand and support continued innovation. As part of that effort, SkinnyPop announced the addition of Tom Ennis, the former CEO of Oberto Brands, to the SkinnyPop executive team.
The parties did not disclose the financial terms of TA's investment in SkinnyPop.
Founded in 2010, SkinnyPop is a marketer of ready-to-eat, "better-for-you" popcorn products. The founders focused on creating a great-tasting and simple product, including limiting ingredients while mandating that their core offerings be non-GMO, peanut free, tree nut free, dairy free and gluten free.
The Skokie, Ill.-based company distributes its products through club, grocery, drug, mass and convenience store channels.
TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 440 companies around the world and has raised $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, health care and consumer industries.
"I am excited to partner with Pam and Andy to continue building the SkinnyPop brand," said Tom Ennis, who recently joined SkinnyPop as CEO. "My primary goal is to adhere to the standards of excellence they have established. SkinnyPop has built something very unique by creating outstanding products and by building supportive partnerships."
"Pam and Andy committed to a set of brand and company values that very much align with how we do business at TA Associates," said William D. Christ, a principal at TA Associates who will join the SkinnyPop board. "Tom has a long history of preserving culture while also building outstanding brands. We all agree he is a great fit for SkinnyPop."
"We are confident that we have found the right partner in TA Associates," said Andy Friedman, co-founder of SkinnyPop. "TA understands growth company investing and we believe they can add significant value and resources to our business. TA will help us further solidify and build on our strong foundation."
Pam Netzky, co-founder of SkinnyPop, added, "We also are excited to have Tom on board. He is a seasoned and well-respected executive in the snacking industry. Tom's experience will augment our historical efforts and we look forward to actively working with him and TA."