Chaucer, a global producer of specialist food ingredients and products, is pleased to announce it has entered into an agreement to acquire 65 per cent of Crunchies Food Company (Crunchies), a leading US freeze dried brand.
The investment is reflective of Chaucer’s increasing momentum in the rapidly growing US freeze dried market, and the expansion of its freeze dried offering direct to consumers. In addition, Crunchies will provide Chaucer with a strong platform from which to expand in the rapidly growing US and global freeze dried market, and will diversify Chaucer’s operations to the effect it will control the product’s route to the consumer market and supply chain in the US markets.
The award winning Crunchies brand has experienced strong, double digit growth within the past year and successfully taps into the growing market of health conscious consumers seeking a healthy, nutritious snack option. Crunchies is now the leading brand in freeze dried snacking in the US by sales, as confirmed by Nielson in May 2014.
Since its inception in 2005, Crunchies has established strong supplier relationships, distributor relationships and is sold across the North American market through high profile grocers including Walmart, Costco and Whole Foods. The investment provides Crunchies with access to Chaucer’s significant global reach and marketing/sales leverage to continue its growth trajectory.
Andy Ducker, CEO of Chaucer comments: “We are delighted to announce our strategic investment in Crunchies, which illustrates Chaucer’s wider corporate strategy to become a truly global, market leading specialist food ingredient and consumer products producer.
“We are confident that with our operational expertise and investment, the already successful Crunchies brand will develop to its full potential in the US and maximise its opportunities in the growing freeze dried markets. In addition, the combination of Crunchies and Chaucer companies will provide Chaucer with increased visability and exposure to customers and suppliers in the North American markets.”
Source: Confectionery Production