MINNEAPOLIS — Flagstone Meals, one of many largest producers and distributors of personal label snacks and path mixes in North America, has acquired Emerald Nuts from Camden, NJ-based Campbell Soup Co. Monetary phrases of the transaction weren’t disclosed.
Based in 2004, Emerald Nuts presents quite a lot of nuts, together with almonds, pecans, walnuts, cashews, peanuts and combined nuts in a variety of flavors. The corporate presents merchandise in grab-and-go 100 calorie packs in addition to assorted particular person baggage.
“Emerald has been offering high-quality branded snack nuts since 2004 and is now the go-to possibility for shoppers in search of better-for-you snacking on the go,” mentioned Harry Overly, chief government officer of Flagstone Meals. “Including Emerald Nuts to our portfolio establishes a brand new avenue for Flagstone to service our prospects with revolutionary snack merchandise and unites two trade leaders with a shared dedication to the very best ranges of product high quality and innovation. Our Flagstone staff is happy to welcome Emerald as a transformative acquisition to our portfolio, and we’re trying ahead to persevering with to drive progress for each Flagstone and our retail companions.”
Flagstone Meals was shaped in 2019 following Atlas Holdings LLC’s $90 million acquisition of the snack nuts and path combine enterprise of TreeHouse Meals, Inc. The corporate had operated independently as Flagstone Meals previous to being acquired by TreeHouse in June 2014. Flagstone operates three manufacturing crops in Dothan, Ala.; Robersonville, NC; and El Paso, Texas.
Campbell Soup acquired the Emerald nuts enterprise as a part of its acquisition of Snyder’s-Lance, Inc. in 2018. Snyder’s-Lance had acquired the enterprise as a part of its acquisition of Diamond Meals, Inc. in 2015.
In keeping with Campbell Soup, the Emerald enterprise generated internet gross sales of $66 million in fiscal 2022 and $46 million for the nine-month interval ended April 30, 2023. The corporate mentioned it doesn’t count on the divestiture to have a cloth affect to its fiscal 2023 monetary outcomes. As well as, the transaction is anticipated to be dilutive to earnings per share by roughly 1¢ in fiscal 2024, reflecting the timing of a transition service settlement and value actions.
“The sale of the Emerald enterprise is a part of our ongoing strategic course of to create even larger concentrate on driving accelerated progress throughout our Snacks division and energy manufacturers,” mentioned Chris Foley, government vp and president, Campbell Snacks.