PepsiCo has entered into an agreement to acquire BFY Brands, the maker of PopCorners snacks, from private equity firm Permira.
Upon closing, BFY will become part of PepsiCo’s Frito-Lay North America division, which makes brands such as Doritos, Cheetos and Sun Chips.
The PopCorners line of air-popped snacks is available in more than 40 countries and was expanded earlier this year to include Flex Protein Crisps and Flourish Veggie Crisps.
BFY employs approximately 750 people, primarily at its manufacturing facilities in Middletown and Liberty in New York, where production is expected to continue. The company is also a contract manufacturer of popped snacks.
“BFY Brands offers distinctive products that deliver the great taste and ingredients consumers are looking for,” said Steven Williams, CEO, PepsiCo Foods North America.
“Their production capabilities will support the growth of our existing, more-nutritious snack brands.”
Following the completion of the transaction, BFY expects to continue its current expansion plans under the leadership of CEO Paul Nardone and chief commercial officer Dan Morgan.
“Our goal has always been to bring innovative and delicious better-for-you snacking options to more consumers around the world, and joining the PepsiCo family will allow us to do just that,” said Nardone.
He added: “With the support of the Permira funds, we have transformed from our manufacturing heritage to become a leader in better-for-you snacking. With their deep knowledge of consumer businesses, broad contacts and collaborative approach, they were the ideal partner to back our growth and we are excited to continue our successful trajectory with Frito-Lay.”
Dan Morgan said: “It’s undeniable that consumer preferences have shifted towards healthier snacking options. We’re thrilled to join PepsiCo and enhance Frito-Lay’s portfolio of better-for-you brands, and continue growing on a regional, national and global basis.”
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