Conagra Brands Inc. (NYSE: CAG) has agreed to acquire Angie’s Artisan Treats from TPG Growth. The purchase is part of the company’s ongoing strategy to transform its portfolio through M&A.

Angie’s, located in North Mankato, Minnesota, is known for making more than a dozen flavors of ready-to-eat popcorn under the Boomchickapop brand. The target has a presence in North America, South Korea and Peru.

“Adding the Angie’s Boomchickapop brand to Conagra’s portfolio is another important step in our ongoing plan to modernize our portfolio and accelerate growth,” says Conagra CEO Sean Connolly. “It will be a great complement to our growing snack business.”

Chicago-based Conagra, which owns the Slim Jim brand, has been busy buying and selling assets. In 2017, Conagra announced plans to sell the Wesson oil brand to J.M. Smucker Co.(NYSE: SJM) and bought meat snacks maker Thanasi Foods; In 2016, the company completed the spinoff of the Lamb Weston frozen fries division; Also in 2016, Conagra sold the Spicetec seasonings and flavors business to Givaudan.

TPG Growth is the middle-market and growth equity arm of private investment firm TPG. San Francisco-based TPG Growth has more than $8.3 billion in assets under management. The firm is also backed by the resources of TPG’s nearly $72 billion in assets under management. The firm recently made a minority investment in Campus Activewear.

McGrath North served is representing Conagra. Lindquist & Vennum LLP is advising Angie’s. Houlihan Lokey Inc. (NYSE: HLI) and Kirkland & Ellis LLP are advising TPG Growth. Financial terms were not disclosed.