The plant has been Annie’s primary manufacturer of cookie and cracker products since the inception of its snacks business in 2002.
Annie’s Baking, a subsidiary of Annie’s, acquired the plant for $6m, plus the actual cost of inventory and supplies on hand at closing. The acquisition was funded with approximately $7.4m in cash on hand.
Concurrent with the closing of the transaction, Annie’s Baking also entered into a supply agreement to produce products on behalf of an affiliate of Safeway for a period of three years.
“We are very excited to become a part of the Joplin community and to welcome the plant’s employees to the Annie’s family,” said John Foraker, CEO of Annie’s. “The Joplin plant has been a valued manufacturing partner of Annie’s since our introduction of Cheddar Bunnies crackers over a decade ago. We see a bright future in our snacks business, and I am confident that the capacity and capabilities provided by the Joplin plant and its dedicated workforce will help us achieve our significant long-term growth potential.”
Source: Annie’s
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