Eagle Foods announced it has entered into a definitive agreement to acquire the Helper main meals and Suddenly Salad side businesses from General Mills Inc. The proposed transaction is expected to close in the third quarter of calendar year 2022, subject to regulatory approval, according to the announcement.
"We are builders of brands, categories, and people," Bernard Kreilmann, chief executive officer of Eagle Foods, said in the announcement. "The Helper and Suddenly Salad brands, with strong heritage and high consumer awareness, are a perfect fit for what Eagle does best – investing in, innovating, and revitalizing brands to drive growth and nurture them to reach their full potential."
The acquisition creates three diversified platforms within Eagle Foods focused on growing center store categories for retailers – snacks, baking, and meals and sides. Eagle will continue investing in its growing snacks and milk business in parallel with this new investment.
Eagle Foods has been driving brand and category growth by investing in R&D, innovations, marketing, and strong supply chain efficiencies. It is a leader in the sweetened condensed milk category. Eagle Foods also reversed negative share and distribution trends of two struggling popcorn brands it acquired, Cretors and Popcorn Indiana, turning them into fast-growing brands in their category.