PURCHASE, N.Y. — PepsiCo, Inc. announced an agreement to acquire BFY Brands, a maker of air-popped chips and veggie crisps. The Middletown, N.Y.-based company will be managed by PepsiCo’s Frito-Lay North America division. Financial terms of the transaction were not disclosed.
The company’s primary product is PopCorners, a low-calorie popped corn snack. Earlier this year, the Popcorners brand expanded with the addition of Flex Protein Crisps, made with soybean and cassava, and Flourish Veggie Crisps, featuring kale, beets and cauliflower. The company employs approximately 750 and distributes products to more than 40 countries and territories. BFY Brands also is a contract manufacturer of popped snacks.
“BFY Brands offers distinctive products that deliver the great taste and ingredients consumers are looking for,” said Steven Williams, chief executive officer at PepsiCo Foods North America. “Their production capabilities will support the growth of our existing, more-nutritious snack brands.”
Once the transaction is finalized, BFY’s manufacturing facilities will remain in Middletown and Liberty, N.Y. The company said it expects to continue its expansion plans under the leadership of Paul Nardone, c.e.o., and Dan Morgan, chief commercial officer.
“Our goal has always been to bring innovative and delicious better-for-you snacking options to more consumers around the world, and joining the PepsiCo family will allow us to do just that,” Mr. Nardone said. “With the fastest growing brand among better-for-you salty snacks, we look forward to leveraging PepsiCo’s world-class resources and distribution platform for this next chapter.”
The transaction is the latest in a series of better-for-you snack acquisitions by PepsiCo. Last year, the company acquired Bare Snacks, a San Francisco-based maker of baked fruit and vegetable snacks, including beet chips, apple chips and coconut chips. PepsiCo also purchased Health Warrior, Inc., Richmond, Va., which makes plant-based nutrition bars containing chia and pumpkin seeds.