Wednesday 9th August 2006
Lion gobbles Kettle Chips
Private equity house Lion Capital is set to swallow premium crisp maker Kettle Foods, the premium crisp maker. London-based Lion should complete the transaction within a month, once the regulators have digested the details.
Headquartered in Salem, Oregon, Kettle Foods makes Kettle Chips in such favourite varieties as ‘Salsa & Mesquite’ and ‘Jalapeño Jack’. Kettle-watchers will know that in its fiscal year 2006, sales in the US and from its UK site in Norwich boiled up to around $150 million. ‘As a leader in the premium and natural segments of the snacks market, Kettle is capitalising on consumers’ trend towards “healthier” eating through product innovation and increased market penetration,' observed founding Lion partner Lyndon Lea. ‘We believe there is a compelling opportunity to continue Kettle’s strong growth behind these same drivers.’
Oliver Haill
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