Conagra Brands, Inc. is enhancing its portfolio, acquiring Angie's Artisan Treats, LLC, maker of Angie's Boomchickapop ready-to-eat popcorn, from growth equity platform TPG Growth.
"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 CEO of Conagra Brands. "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. We are looking forward to working together to grow the brand and create value for our shareholders."
The Angie's Boomchickapop brand was founded by Dan and Angie Bastian, an entrepreneurial husband/wife duo, in 2001. According to a press release, the brand features more than a dozen varieties of ready-to-eat popcorn and is available nationwide in 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, CEO of Angie's Artisan Treats. "We are confident that the Angie's Boomchickapop business will continue to expand its reach as a part of Conagra Brands."
Angie Bastian, namesake and Founder of Angie's Boomchickapop said that she loves Conagra's vision of being the most-energized, highest-impact culture in food, commenting, “We see Conagra as a perfect fit for the Angie's Boomchickapop brand. It was a dream of my husband Dan and I to create positive energy when we started our little popcorn company in our Minnesota garage. We're proud of what our team has built, and can't wait to see it taken to the next level. Dream big, work hard, and crush it!"
Angie's Boomchickapop has a presence in the U.S., Canada, South Korea, Peru, the Caribbean, and Mexico.
"It's been a pleasure to work closely with the management team and founders through the company's transformation to a better-for-you snacking leader as Angie's Boomchickapop," said Mark Grabowski, Partner at TPG Growth. "We're focused on partnering with high growth, dynamic brands that distinctly resonate with today's and tomorrow's consumer. Angie's Boomchickapop is a great example of this–its commitment to great taste and authenticity has enabled it to flourish as an adored consumer brand in the better-for-you snacking space. We wish them continued success with Conagra."
While the financial terms of the deal were not disclosed, the companies said it is expected to close by the end of the calendar year.
