Diamond Foods completes buyout of Pop Secret
STOCKTON, Calif. Diamond Foods, famous for its brand of high-end almond snack, this week has announced the completion of its acquisition of Pop Secret and related debts.
Formerly a popcorn business under the General Mills, Inc. umbrella, Pop Secret was purchased by Diamond Foods for $190 million, according to reports. The sale was completed in part with a five-year, unsecured credit facility worth $250 million put in order by Bank of America, N.A. This deal replaces Pop Secret’s former arrangements pertaining to its credit facilities and other debts.
The president and chief executive officer of Diamond Foods, Michael Mendes, welcomed the addition of Pop Secret, expressing excitement that Diamond Foods would be growing its snack business into the microwave popcorn category.
Pom releases ready-to-drink iced coffees
LOS ANGELES POM Wonderful, the maker of popular bottled pomegranate juice varieties, has launched a new line of iced coffee drinks that contain antioxidants and caffeine.
POMx iced coffee, currently available only in New York City retailers and Northeast and North Atlantic Whole Foods Markets locations, contain Italian-roasted Arabica coffee beans, milk from non-rBGH cows, organic sugar, and POMx health supplement (an all-natural, concentrated blend of polyphenol antioxidants derived from pomegranates). The POMx iced coffees come in two flavors: cafe au lait and chocolate.
POMx iced coffees are available in 10.5-ounce bottles for about $2.99. More information on POM Wonderful and POMx coffee is available at www.pomwonderful.com and www.healthybuzz.com. POMx Pills and POMx Liquid are available for purchase at www.pompills.com.
Striking a sour note: Candy Dynamics banks on wacky consumer cravings
INDIANAPOLIS A small candy maker has been making big strides by marketing brightly-colored, extremely sour confections.
Three-year-old candy company Candy Dynamics markets candies with such gruesome names as Hi-Voltage Bubble Gum, Nuclear Sludge and Toxic Waste Hazardously Sour Candy. Toxic Waste candy comes in an appropriately designed bright yellow sealed drum container. Other novelty confections, like a like of sour candy sprays, come in brightly-colored packages covered with cartoon characters like mad professors and devious lab rats. And according to local reports, these off-the-wall items are big sellers.
Reports have said that something about this unorthodox approach to marketing candy has taken hold, spreading Toxic Waste across the United States. Projections have said that Candy Dynamics is slated to sell upwards of 28 million candy items this year.
Candy Dynamics’ candies are priced between $2 per Toxic Waste Sour Candy Drum and $4.50 per 3-pack of Sour Candy Sprays. Candy Dynamic’ products can be ordered from the Web site, www.candydynamics.com, or can be found at checkout counters nationwide at retailers such as Blockbuster Video, 7-11 stores and Walgreens.