CHICAGO -- Conagra Brands Inc. has entered into a definitive agreement to acquire Angie's Artisan Treats LLC, the maker of Angie's Boomchickapop ready-to-eat popcorn, from TPG Growth. Financial terms of the agreement, which will finalize by the end of the calendar year, were not disclosed.
"Adding the Angie's Boomchickapop brand to Conagra's portfolio is another important step in our ongoing plan to modernize our portfolio and accelerate growth," said Sean Connolly, president and chief executive officer of Conagra Brands, Chicago. "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."
The Angie's Boomchickapop brand was founded by husband and wife entrepreneurs Dan and Angie Bastian in 2001. The brand has more than a dozen varieties of ready-to-eat popcorn and is available nationwide in convenience, natural-food, grocery, club, drug and mass-retail outlets.
"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. The business has thrived, but is still in the early innings of realizing its full potential. The goal from the beginning has been to make real connections with more consumers by bringing them our positive energy, bold flavors, whole-grain goodness and authentic 'live out loud' attitude," said Mark Zurcher, chief executive officer of Angie's Artisan Treats, North Mankato, Minn. "We are confident that the Angie's Boomchickapop business will continue to expand its reach as a part of Conagra Brands."
This acquisition follows a deal earlier this year by Conagra to acquire Thanasi Foods LLC, maker of Duke's meat snacks and Bigs seeds, as the brand continues to build its better-for-you portfolio.
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