Our Home acquired Pop Secret from Campbell Soup Co. in a move it says significantly scales its "existing platform and footprint" nationally. Our Home markets brands such as Popchips, You Need This, Good Health Positively Snackable, and Real Food From the Ground Up.
The Pop Secret business generated net sales of approximately $120 million in fiscal 2024. The transaction is expected to be dilutive to Campbell’s fiscal 2025 earnings per share by approximately $0.04, reflecting the timing of a transition service agreement and cost actions.
"This marks another step in our journey to strategically focus our Snacks portfolio. The sale of Pop Secret will drive greater focus and accelerated growth across our Snacks division and portfolio of leading brands,” said Chris Foley, executive vice president and president of Campbell’s Snacks.
Adding the Pop Secret brand significantly enhances Our Home's product offerings, the company noted in a release, reinforcing its focus on better-for-you products. Pop Secret will add a well-known popcorn brand with nearly 40 years of history and innovation to the Our Home portfolio. Pop Secret's emphasis on authentic, real butter flavors and a focus on making healthy snacks fits its product line.
"Acquiring Pop Secret marks Our Home's expansion into the microwave popcorn category, strengthening our status as a premier independent snacking platform," says Aaron Greenwald, founder and CEO of Our Home in a release. "The brand's significant MULO consumption and widespread household recognition, combined with our extensive manufacturing capabilities, create a unique platform for growth and innovation in the market."
BofA Securities acted as the exclusive financial advisor, and Blank Rome served as legal advisor to Campbell’s on the transaction.
