General Mills Acquires Natural Snack Foods Maker
General Mills said Wednesday that it has acquired Food Should Taste Good, a Needham Heights, Massachusetts-based natural snack foods company.
Financial terms of the acquisition were not disclosed.
The acquired company will become part of Golden Valley-based General Mills' natural and organic products business, Small Planet Foods, which currently includes the Cascadian Farm, Muir Glen, and Larabar brands.
“This acquisition further positions us for continued growth with a great new brand in an entirely new category in our natural and organic business,” Small Planet Foods President Michele Meyer said in a statement. “Food Should Taste Good is a strong brand with high-quality products and tremendous potential-and we are fully committed to maintaining the great-tasting, all-natural Food Should Taste Good snacks that consumers love.”
According to General Mills, the “natural and organic salty snacks category” in which Food Should Taste Good competes has experienced double-digit sales growth for the past two years.
Food Should Taste Good is growing rapidly and is one of the largest natural snack brands in the United States, General Mills said. The company makes natural tortilla chips in a variety of flavors, including sweet potato, lime, olive, chocolate, multigrain, and jalape–o. The company also produces kettle-cooked sweet potato chips and other natural snacks.
Food Should Taste Good founder Pete Lescoe will remain with the business as creative director.
General Mills is Minnesota's eighth-largest public company based on revenue, which totaled $14.9 billion for the fiscal year that ended in May 2011.