Diamond Foods' Emerald snacks growing strong
December 23, 2008
by FoodBusinessNews.net Staff
SAN FRANCISCO — Diamond Foods, Inc. has announced its Emerald snack sales grew 22% for the four weeks ended Nov. 29 and exceeded $5 million. This is the highest one-month total since the brand was introduced in 2004.
"We are very encouraged by the growth of our snack business as we approach the halfway point of our fiscal year," said Michael Mendes, president and chief executive officer. "We continue to strengthen the quality of distribution and introduce innovative, high-quality products and packaging in order to attract consumers to the category. We are also well-positioned with regard to the current economic climate and are successfully reaching consumers in more value-oriented channels where they are shopping more frequently."
Since the company acquired the Pop Secret microwave popcorn brand in September, Pop Secret sales have grown 7% over the prior year period and the brand’s market share is now 24%.
Emerald’s new line of 100-calorie packs will reach national distribution levels in January, which is just four months after being introduced to the market.
Emerald also improved its penetration in the non-food channel as Emerald snacks can be purchased on board three major U.S. airlines.