£400m for Kettle chips

A BRITISH-OWNED producer of crisps is being bought out by an American food conglomerate, it was revealed yesterday.

By The Newsroom

Published 27th Feb 2010, 19:20 BST

Updated 27th Feb 2010, 20:03 BST

San Francisco-based Diamond Foods is paying $615 million (400 million) "in cash" for Kettle Foods.

The manufacturer of premium crisps is currently owned by London-based private equity firm Lion Capital and has a factory in Bowthorpe, near Norwich. The company was founded in 1978.

The deal is expected to go through this year.

Michael Mendes, chairman of Diamond Foods, said his firm had a "deep respect" for Kettle's "truly premium brand".

He added: "We plan to invest behind the brand to position it for long-term success."

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