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VMG Partners Acquires popchips to Launch Velocity Snack Brands Platform
Friday 11 October 2019

11 October 2019 - Los Angeles, US-based private equity firm VMG Partners' new branded snacking platform, Velocity Snack Brands, has acquired the popchips brand as the first acquisition of its new portfolio, the company said.
Terms of the transaction were not disclosed.
VSB, along with other future VMG platform concepts, will house a portfolio of brands that meet an array of consumer needs and usage occasions, providing a single source for retailers across brick and mortar and digital channels.
popchips was founded in 2007 by Keith Belling (a serial food entrepreneur) and Patrick Turpin. Since Belling and Turpin launched the popchips brand, its products. Verlinvest, a global consumer focussed private investment group and the majority shareholder of the company, along with the popchips board of directors have elected to sell popchips to VSB.
As the inaugural brand under the VSB platform, popchips will be led by VSB CEO, Amit Pandhi.
Velocity Snack Brands is a portfolio company of VMG Partners with the mandate to acquire, incubate and strategically grow iconic snacking brands.
VMG Partners specialises in building iconic consumer brands in the food and beverage, personal care and beauty, pet food and wellness categories.
Verlinvest is a private investment holding company with offices across North America, Europe and Asia focussed on executing high-growth investments within the branded consumer space.
Barclays served as exclusive financial advisor to popchips and Verlinvest in the transaction. Morrison Foerster served as legal advisor to popchips in the transaction.
Details
Date Published: 11/10/2019
Target: popchips brand
Country: USA
Sector: Food/Beverages/Tobacco
Type: LBO
Financing:
Status: Closed
Vendor:
Buyer: Velocity Snack Brands
Comment:
Terms of the deal were not disclosed

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