PURCHASE, N.Y. — PepsiCo, Inc. has entered into a definitive agreement to acquire BFY Brands, maker of air-popped chips and veggie crisps. The Middletown, N.Y.-based company will be managed by PepsiCo’s Frito-Lay North America division. Financial terms of the transaction were not disclosed.
BFY Brands was formed in 2015, after a company funded by private equity firm Permira acquired Medora Snacks, L.L.C. and Ideal Snacks Holding Corp. The deal combined the two businesses under the BFY banner.
The brand’s primary product is PopCorners, a better-for-you popped corn snack containing 130 calories or less. Other products in BFY’s portfolio include Flex protein crisps, a line of energy-enhancing chips made with plant-based protein from soybean and cassava. The protein crisps launched in February alongside Flourish, a line of veggie crisps made from kale, beets and cauliflower.
“BFY Brands offers distinctive products that deliver the great taste and ingredients consumers are looking for,” said Steven Williams, chief executive officer at PepsiCo Foods North America. “Their production capabilities will support the growth of our existing, more-nutritious snack brands.”
Once the transaction is finalized, BFY’s manufacturing facilities will remain in Middletown and Liberty, N.Y.
“Our goal has always been to bring innovative and delicious better-for-you snacking options to more consumers around the world, and joining the PepsiCo family will allow us to do just that,” said Paul Nardone, c.e.o. of BFY Brands. “With the fastest growing brand among better-for-you salty snacks, we look forward to leveraging PepsiCo’s world-class resources and distribution platform for this next chapter.”
The transaction is the latest in a series of better-for-you snack acquisitions by PepsiCo. The company acquired baked fruit and vegetable maker Bare Snacks last year. Other recent additions include Health Warrior, Inc., maker of plant-based nutrition bars, and Pipers, maker of chip and pea snacks.