Eagle Foods Acquires Popcorn, Indiana
Popcorn, Indiana will Join G.H. Cretors and Hi I'm Skinny in Eagle Foods' Snacks Portfolio
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.