Permira Funds to Acquire Maker of PopCorners® and Other Better-For-You Branded and Private Label Snack Products
NEW YORK – June 9, 2015 – Permira, the international private equity firm, announced today that a company backed by the Permira funds has signed definitive agreements to simultaneously acquire Medora Snacks, LLC (“Medora”) and Ideal Snacks Holding Corporation (“Ideal”). Terms of the transaction were not disclosed. Medora manufactures branded better-for-you snacks, including PopCorners®, PopCorners Whole Grain®, Pop Crinkles®, and popped bean chips. Ideal is the leading contract manufacturer of better-for-you diversified popped snacks. The Permira funds will combine Medora and Ideal under a single holding company called BFY Holdings I, LLC (“BFY Holdings”). BFY Holdings will be a leader in the better-for-you snack product category, one of the fastest growing segments of the overall U.S. salty snack market.