Conagra to Acquire Maker of Boomchickapop

Conagra Brands has acquired Angie's Artisan Treats, maker of Angie's Boomchickapop ready-to-eat popcorn, from TPG Growth. Financial terms were not disclosed. The transaction is expected to close by the end of the calendar year.

"Adding the Angie's Boomchickapop brand ... is another important step in our ongoing plan to modernize our portfolio and accelerate growth," said Sean Connolly, Conagra's chief executive officer. "The Angie's Boomchickapop business is a leader in the fast-growing, better-for-you snacking segment. It will be a great complement to our growing snack business. We are looking forward to working together to grow the brand."

"[Angie's] has achieved exceptional growth through great teamwork between our team, Angie and Dan Bastian, our founders, as well as support from TPG Growth. The business has thrived, but is still in the early innings of realizing its full potential," said Mark Zurcher, chief executive officer of Angie's. "We are confident that the ... business will continue to expand its reach as a part of Conagra Brands."  

The Angie's Boomchickapop brand was founded by husband and wife entrepreneurs Dan and Angie Bastian in 2001. The brand features more than a dozen varieties of ready-to-eat popcorn and is available nationwide in natural food, grocery, club, drug and mass retail outlets. It has a presence in the U.S., Canada, South Korea, Peru, the Caribbean and Mexico.

TPG Growth is the middle market and growth equity platform of alternative asset firm TPG.

Conagra Brands ranked 34th on CGT's list of the Top 100 Consumer Goods Companies for 2016.