Charlotte-based Snyder’s-Lance has purchased the remaining interest in a British popcorn maker called Metcalfe’s skinny Limited.
The deal is Snyder’s-Lance’s latest push into the “better-for-you” snack category that also seeks to take advantage of a fast-growing European snack segment.
In a statement Thursday, Snyder’s said Metcalfe’s is the U.K.’s premium popcorn brand that also makes a variety of corn and rice cakes. The U.K. popcorn market has grown by 45 percent over the last two years, Snyder’s said.
Kettle Foods, a subsidiary of Snyder’s, acquired a 26 percent stake in Metcalfe’s earlier this year. In the most recent deal, Snyder’s purchased the remaining 74 percent.
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Terms of the deal were not disclosed.
“This addition to our branded portfolio provides us with another better-for-you option in a growth snacking category in the European markets, and we look forward to supporting the continued success of the Metcalfe’s skinny brands,” Snyder’s-Lance CEO Carl Lee said.
Snyder’s most recent major “better-for-you” deal was its $1.91 billion purchase of Diamond Foods, the San Francisco snack maker of products like Kettle Brand chips, Pop Secret popcorn and Emerald snack nuts.
London-based Metcalfe’s was founded in 2009 by Julian Metcalfe, the co-founder of the popular restaurant chain Pret A Manger.