A Norfolk crisp company is looking forward to an “innovative” future once it has been bought by a leading food firm.
Kettle Foods, makers of premium potato chips, is to be acquired for £410m from Lion Capital LLP by US-based Diamond Foods.
It is hoped that Kettle’s strong position in the UK will provide a platform for Diamond to expand into new markets.
Michael J Mendes, Chairman, President and CEO of Diamond Foods, said: “Kettle Foods’ passion for making great-tasting, natural potato chips has attracted a loyal consumer following and shaped a truly premium brand.
By adding Kettle, including its talented team of employees, our snack business will have greater scale and innovation in the snack market.
Michael J Mendes
Diamond Foods
“By adding Kettle, including its talented team of employees, our snack business will have greater scale and innovation in the snack market.
“We plan to invest behind the brand in several areas to position it for long-term success.”
The deal is expected to close by the end of Diamond’s fiscal year 2010.
Jeremy Bradley, the Managing Director of Kettle's UK business, said: “With a strong track record of brand-building, innovation and growth in the snack category in the U.S., Diamond Foods is an ideal partner to build upon our success.
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“While Diamond Foods has a long history of international sales, Kettle's strong retail and operational foundation in the United Kingdom offers Diamond a platform, led by Kettle Chips, for expanding in the UK and Europe.”
The Kettle brand has been a strong performer in the premium potato chip category and operates in both the US and the UK.
It pioneered the kettle-cooked style in 1982 with its natural ingredients and ‘commitment to flavour’.
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