Chaucer Food Group is investing in Crunchies, a freeze-dried vegetable brand.
Crunchies, headquartered in Westlake Village, California, makes snacks that are free from chemicals, preservatives, gluten and Kosher. The company has had double-digit growth in the last year, according to Chaucer. Crunchies’ snacks are sold in Walmart (NYSE: WMT), Costco (Nasdaq: COST) and Whole Foods (Nasdaq: WFM). Terms of the deal were not disclosed.
The deal helps Chaucer expand in the U.S. freeze-dried market, which the group says is a burgeoning industry. Hull, England-based Chaucer produces food ingredients for companies including Kellogg’s (NYSE: K), Heinz, Kraft (Nasdaq: KRFT), Nestle, Unilever (NYSE: UL) and Starbucks (Nasdaq: SBUX).
Other recent food deals include Centre Partners investment in Stonewall Kitchen; and Atlantic Natural Foods LLC’s purchase of Lorna Linda canned foods.
The deal reflects consumer’s interest in better-for-you food products, which has caused food companies to acquire those brands. For more on the trend, see Snack Time.