Eagle Foods announced the closing of its acquisition of Popcorn, Indiana, the maker of the well-known ready-to-eat ("RTE") popcorn products, as part of the company's continued initiative to increase its snacks portfolio.
Popcorn, Indiana offers a wide array of unique flavors and product offerings, including classic Kettlecorn and indulgent Black & White Drizzlecorn. Popcorn, Indiana strategically complements Eagle Foods' G.H. Cretors brand and private label popcorn offerings, which include The Mix, a 50/50 caramel and cheese product. The acquisition will also increase Eagle Foods' scale and importance in the high growth RTE popcorn category, which has been growing at 5-6% annually. This growth is significantly faster than the broader snacking category, as consumers' desire for clean label, flavor forward, better-for-you-options continues to spur growth.
Combined with its other salty snack offerings, which include Hi I'm Skinny veggie sticks, as well as other high-quality, award-winning veggie sticks, chips, and puffs, Eagle Foods is well-positioned to offer its customers unique products and expertise spanning both branded and private label products. Eagle Foods' manufacturing and R&D capabilities further enable it to provide customers and consumers with a consistent and robust pipeline of innovative products and progressive flavors.
In addition to its growing snack platform, Eagle Foods has a significant presence within the baking aisle. Eagle Foods is a leading manufacturer of canned milk, which includes the category branded leader, Eagle Brand Sweetened Condensed Milk. In addition, the Company offers a portfolio of canned milk brands, including PET Evaporated Milk, Magnolia, Milnot, and others. Within canned milk, the Company also has a significant presence in private label.