The addition of BFY will expand the snacking giant’s portfolio and further deliver on its Winning with Purpose vision to offer consumers more nutritious and guilt-free options.
BFY was formed by private equity group Permira from a pair of acquisitions in 2015. According to the producer, its primary product is the fastest growing healthier salty snack brand in the US. The popped corn snack has a strong track record in the club and grocery segments within the US and Canada, as well as a presence in over 40 countries worldwide.
The range also includes Flex Protein Crisps and Flourish Veggie Crisps, while BFY is also a contract manufacturer of better-for-you popped snacks.
“BFY Brands offers distinctive products that deliver the great taste and ingredients consumers are looking for,” said Steven Williams, CEO, PepsiCo Foods North America.
“Their production capabilities will support the growth of our existing, more-nutritious snack brands.”
After the transaction closes, BFY expects to continue operations at its two manufacturing facilities in New York, under the leadership of its CEO Paul Nardone. The brand will report to PepsiCo’s Frito-Lay North America division.
The transaction is subject to customary conditions and approvals, including regulatory approvals.