Lion exits Kettle in $615m trade sale
UK-based private equity firm Lion Capital has agreed the sale of Kettle Foods to trade buyer Diamond Foods for $615m in cash.
Kettle Foods was founded in Salem, Oregon in 1978 before expanding to the UK in 1989. The company manufactures snacks and distributes them throughout North America, Japan, Guam and Western Europe.
The transaction, which includes Kettle's US and UK operating entities, is expected to close by the end of Diamond’s fiscal year 2010. The deal is subject to customary conditions, including regulatory approval.
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