M&A Deal Summary

Conagra Brands Acquires Angie’s Kettle Corn

On September 22, 2017, Conagra Brands acquired food company Angie’s Kettle Corn from TPG

Acquisition Highlights
  • This is Conagra Brands’ 26th transaction in the Food sector.
  • This is Conagra Brands’ 24th transaction in the United States.
  • This is Conagra Brands’ 2nd transaction in Minnesota.

M&A Deal Summary

Date 2017-09-22
Target Angie’s Kettle Corn
Sector Food
Buyer(s) Conagra Brands
Sellers(s) TPG
Deal Type Add-on Acquisition
Advisor(s) Lindquist & Vennum LLP (Legal)

Target

Angie’s Kettle Corn

Mankato, Minnesota, United States
Angie’s Kettle Corn is an outdoor vendor operation selling Angie’s classic Sweet & Salty Kettle Corn recipe. Agie’s lineup of products includes flavors such as Boomchickapop™ Sea Salt, Sweet & Salty, Lightly Sweet, White Cheddar and Caramel & Cheddar Mix, as well as new innovations such as Salted Caramel and Sweet & Spicy Kettle Corn. Angie’s Kettle Corn was formed in 2001 and is based in Mankato, Minnesota.

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Buyer(S) 1

Buyer

Conagra Brands

Chicago, Illinois, United States

Category Company
Founded 1919
Sector Food
Employees18,500
Revenue 12.1B USD (2024)
DESCRIPTION
Conagra's office in Omaha, Nebraska.
Conagra's office in Omaha, Nebraska.

Conagra Brands is a packaged food company with branded and private branded food products. In addition to serving consumer households, ConAgra also offers food products to commercial food customers including restaurants and food service companies. Conagra Brands was founded in 1919 and is based in Chicago, Illinois.


DEAL STATS #
Overall 26 of 30
Sector (Food) 26 of 30
Type (Add-on Acquisition) 22 of 26
State (Minnesota) 2 of 3
Country (United States) 24 of 28
Year (2017) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-16 Duke s Smoked Meats

United States

Thanasi Foods LLC is a maker of premium meat snacks, including Duke's® Smoked Shorty® Sausages and Duke's Brisket & Steak Strips. Focused on crafting the highest-quality smoked meat snacks available, the family-operated business refuses to take shortcuts and is committed to producing its products in small batches with real, whole ingredients, fresh never-frozen pork and chicken, 100% grass-fed beef, and authentic hardwood smoke pairings.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-23 Angie s Boomchickapop

North Mankato, Minnesota, United States

Angie's Boomchickapop is one of the fastest-growing healthy snack players in the United States, delivering products with clean ingredients that are also gluten-free and non-GMO. Angie's Boomchickapop is based in North Mankato, Minnesota.

Buy $250M

Seller(S) 1

SELLER

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 164 of 267
Sector (Food) 4 of 6
Type (Add-on Acquisition) 62 of 94
State (Minnesota) 3 of 5
Country (United States) 118 of 193
Year (2017) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-15 Dharma Platform

Washington, District of Columbia, United States

Dharma Platform is a fully integrated Software-as-a-Service (SaaS) data platform simplifying data collection, management, analysis, and visualization, allowing information to be collected and understood anywhere, in any language, on any device both online and off. Dharma Platform was founded in 2015 and is based in Washington, District of Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-29 IASIS Healthcare

Franklin, Tennessee, United States

IASIS Healthcare Corp. is an owner and operator of medium-sized acute care hospitals in high-growth urban and suburban markets. Additionally, IASIS owns and operates a Medicaid managed health plan in Phoenix that serves over 108,000 members. IASIS Healthcare was formed in 1998 and is based in Franklin, Tennessee.

Sell -