Diamond Foods Inc. announced it has acquired a 26% stake in UK-based Metcalfe’s skinny Limited, an alternative, ‘better for you’ snack and popcorn producer, for an undisclosed amount.

 

Founded in 2009 by Pret A Manger and Itsu founder, Julian Metcalfe, Metcalfe’s owns the Metcalfe’s skinny Popcorn brand, a ready to eat premium snack product sold mainly on the UK market.

 

The Metcalfe’s skinny management team currently in place will remain with the company after the closing of the deal, as the company will continue operating as an independent subsidiary.

 

"We are very excited to acquire an interest in Metcalfe’s skinny, which is an incredibly innovative, fast-growing, premium brand appealing to 'foodie' consumers looking for lighter great tasting snacks,” said Ashley Hicks, Managing Director of KETTLE® Chips UK, a division of Diamond Foods in a company statement.  “We look forward to working with the management team to support their future growth ambitions in the on-trend, high growth popcorn snack category in the U.K."

 

Diamond Foods is a 100-year old company that sells snacks and nuts under five popular brands – Diamond of California ®, Kettle Brands®, and KETTLE® Chips, Emerald®, and Pop Secret ®.  The group announced that it is financing the acquisition of Metcalfe’s skinny through available cash on-hand.