Packaged food giant Conagra on Friday announced an agreement to purchase the maker of Boomchickapop popcorn snacks.
The owner of Orville Redenbacher's and Jiffy Pop popcorn said that the deal for Minnesota-based Angie's Artisan Treats would help modernize the company's brand portfolio and enable faster growth.
The deal is just the latest example of large food companies acquiring smaller producers that target more health-conscious consumers. Conagra previously cut jobs and sold off numerous businesses in an effort to weather struggles in the packaged food sector.
"The Angie's Boomchickapop business is a leader in the fast-growing, better-for-you snacking segment," Conagra Brands CEO Sean Connolly said in a statement. "It will be a great complement to our growing snack business."
The company, founded by Angie and Dan Bastian in 2001, now makes Boomchickapop in more than a dozen flavors. The ready-to-eat popcorn is sold in retail outlets nationwide and also available in Canada, Mexico, the Caribbean, South Korea and Peru.
Angie's CEO Mark Zurcher said in a statement that despite the strong growth, the brand is still in "the early innings of realizing its full potential."
"We're proud of what our team has built, and can't wait to see it taken to the next level," Angie Bastian said in the statement.
Terms of the deal were not disclosed.