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New owner at kettle

01-Mar-2010

US firm Diamond Foods has acquired Kettle Foods from Lion Capital in a $615M (£404M) deal.

Diamond chief executive Michael Mendes said he planned to "invest behind the [Kettle] brand in several areas to position it for long-term success". Staff at Kettle Foods UK, which has a factory in Norwich, have been told that it will be "business as usual" in the short-term.

California-based Diamond Foods is a leading processor of nuts, with distribution in more than 80% of US supermarkets. It also has a large export business.

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