Diamond completes acquisition of Kettle

SNACK firm Diamond Foods, Inc. completed its acquisition of Kettle Foods from Lion Capital LLP for $165m in cash at the end of March. The transaction was funded by the net proceeds from Diamond's recent common stock offering, borrowings under a new five-year $600m credit facility and existing cash resources. "The addition of Kettle Foods greatly strengthens our presence in the snack market, and we are proud to officially welcome them to our family of brands," said Michael J. Mendes, chairman, president and CEO of Diamond Foods. "Kettle has been an innovator in the premium natural potato chip category and is a brand which has demonstrated strong growth. We look forward to investing in the Kettle brand to further build its footprint and foster long-term success."sneakers