Kelso Fund IX Announces Eagle’s Acquisition of Popcorn Indiana

September 5, 2017

Kelso is pleased to announce that on August 28, 2017, Eagle Foods (“Eagle”) completed the acquisition of Dale & Thomas Popcorn, LLC and Subsidiaries ("Popcorn Indiana").  Popcorn Indiana is one of the leading brands in the ready-to-eat ("RTE") popcorn category and increases Eagle's scale and importance in the high growth RTE popcorn category. Similar to G.H. Cretors, Popcorn Indiana has a rich brand heritage, named after the town of Popcorn, Indiana, and is one of the most recognizable brands in the category. Strategically, Popcorn Indiana complements Eagle's G.H. Cretors brand well and adds considerable distribution and ACV in a number of grocery channels where G.H. Cretors does not currently have a presence. From a product perspective, Popcorn Indiana also complements G.H. Cretors with core SKUs in Kettle and White Cheddar which add to the strong G.H. Cretors offering of The Mix, a 50/50 caramel & cheese product. The Eagle management team's expertise in the salty snack category will also be augmented by the retention of high quality Popcorn Indiana executives. We are excited about adding Popcorn Indiana to Eagle and continuing to grow the Eagle platform organically and through strategic acquisitions.