Kelso Fund IX Announces Eagle’s Acquisition of Cornfields, Inc.
August 5, 2016
Kelso is pleased to announce that on August 5, 2016, Eagle Family Foods Group LLC (“Eagle”) signed a definitive agreement to acquire Cornfields, Inc. (“Cornfields” or the “Company”). Cornfields will be owned 100% by Eagle at closing.
Cornfields is a family-owned manufacturer of Ready-to-Eat (“RTE”) branded and private label popcorn and other snacks. The Company’s G.H. Cretors brand is a unique-tasting, RTE popcorn brand that was launched in 2009 and accounts for 52% of total Company net sales. Eagle and Kelso were selected as the acquirer of choice as a strategic partner who could help grow Cornfields into a leading player in the RTE popcorn category and be good stewards of the G.H. Cretors brand and the Cretors family name.