Wise Snacks boosts GMO-free and BFY snacks portfolio with Deep River acquisition
Deep River, founded in 2002, is a producer of ‘clean and conscientious’ snacks for the US market, clocking up sales of approximately $45m annually.
According to Jim Goldberg, founder and CEO of Deep River, the company focuses on using only non-GMO ingredients that anyone can feel good about eating.
Its line of kettle cooked potato chips and Honchos organic seasoned tortilla chips are also certified Kosher and gluten-free, are cooked exclusively in sunflower oil, and are nut-free.
“The company [also] donates a significant portion of its profits to charity in order to raise awareness for organizations that are important to the company’s employees,” said Ryan Freeman, a director at Harris Williams & Co, a UK middle market investment banker that advised Deep River on the transaction for an undisclosed amount.
Adding impetus to both parties
The acquisition will provide Deep River impetus to scale up rapidly across innovation and distribution, while cementing AC’s position in the US in both the conventional salty snacks segment with its Wise and Cheese Doodles brands and as a new entry into the BFY segment.
AC also produces the snack brands Bokados in Mexico and Inalecsa in Ecuador, as well as non-alcoholic beverages that are brand names of The Coca-Cola Company in Latin America.
Within its Coca-Cola franchise, the company serves a population of more than 118 million in the northern and western parts of Mexico as well as Ecuador, Peru, the northern region of Argentina and the Southwestern US.
AC is listed on the Mexican Stock Market.
