Food Should Taste Good – founded in 2006 by Pete Lescoe – is a pioneer of the plant-based movement, creating snacks that contain only all-natural, nutritious ingredients, but pack a sophisticated flavour. The Needham Heights, Massachusetts-based business has grown into one of the largest natural snack brands in the US, and makes non-GMO tortilla chips from a variety of bases, like sweet potato, blue corn and multigrain, in distinct flavours like kimchi, guacamole and jalapeno.
General Mills acquired Food Should Taste Good in early 2012. At that time, the business was folded into Small Planet Foods, General Mills’ natural and organic product business that homes brands like Cascadian Farm, Muir Glen and Lärabar.
At the time, Michele Meyer, president of Small Plant Foods, said, “This acquisition further positions us for continued growth with a great new brand in an entirely new category in our natural and organic business.
“Food Should Taste Good is a strong brand with high-quality products and tremendous potential – and we are fully committed to maintaining the great-tasting, all-natural Food Should Taste Good snacks that consumers love.”
Added Lescoe, “With its legacy of food innovation and quality, portfolio of iconic brands and leading corporate social responsibility efforts, General Mills is a perfect fit for Food Should Taste Good.”
Accelerating away
However, under its newer strategy to prioritise its core markets, global platforms and local gem brands, Big G no longer believes the producer is a good companion.
“Consistent with our ‘accelerate’ strategy, General Mills is reshaping its portfolio,” said Chelcy Walker, a spokesperson for General Mills.
Big G launched its Accelerate strategy in February 2021, geared toward accelerating the multinational’s organic growth centred on categories such as ice cream, Mexican foods, breakfast cereal, pet food and snack bars.
In a statement, the Cheerios and Häagen-Dazs brand owner said the divestiture of Food Should Taste Good was completed on 3 January.
The right buyer
“This sale is to the right buyer with clear expertise in the tortilla chip business,” added Walker.
Real Food From the Ground Up confirmed the sale, but declined to comer further on the transaction.
The Boonton, New Jersey-based company produces novel snacks with a plant-based twist, such as cauliflower tortilla chips, purple carrot crackers and butternut squash pretzels, among others. The products are also non-GMO, gluten-free and vegan.
Added Walker, “There will be no job loss as part of this divestiture, and no employees will be transitioning to the buyer.”
General Mills is one of the world’s leading food companies, operating in more than 100 countries. Headquartered in Minneapolis, Minnesota, the company had fiscal 2022 net sales of $19bn, up 5% from the year prior.
In reporting the company’s Q2 2023 results on 20 December 2022, chairman and CEO Jeff Harmening said, “Amid ongoing volatility in the operating environment, we remain focused on driving our Accelerate strategy by investing in brand building and innovation, strengthening our capabilities, and continuing to reshape our portfolio.
“With strong first-half results and positive momentum on our business, we are increasing our full-year outlook for organic net sales, adjusted operating profit, and adjusted diluted EPS growth.”