Dive Brief:
- Diamond Foods purchased a 51% stake in Yellow Chips.
- Yellow Chips is a vegetable and organic potato chip producer from the Netherlands, and is the maker of Diamond's Kettle Brand Vegetable Chips.
- "We are excited to acquire an interest in Yellow Chips, which enables us to better compete in the on-trend, high growth vegetable chip category in the UK and Europe," says Brian Driscoll, Diamond Foods' president and CEO in a news release.
Dive Insight:
Food Dive reported on Diamond Foods' profit in December, which surpassed Wall Street expectations. Apparently, it sees Yellow Chips as a valuable asset. Yellow Chips' current management team will stay in place after the purchase, with it functioning "as an independent subsidiary," according to a news release.