VMG Partners acquires North American snack brand popchips

Private equity company VMG Partners has acquired North American snack brand popchips under its new branded snacking platform, Velocity Snack Brands (VSB), for an undisclosed sum.

Popchips was established in 2007 by Keith Belling, a serial food entrepreneur who recently launched vegetables-based grain brand RightRice, and Patrick Turpin.

The brand’s products, which are sold in more than 30,000 stores across North America, include original rounds, ridges, Nutter Puffs and Yes Peas.

The retail partners of popchips include Albertson’s-Safeway, select Costco locations, Kroger, Sprouts, Target, Walmart, Wegmans and Amazon.

VSB, which will be headquartered in Los Angeles, seeks to assemble a portfolio of brands across the salty, sweet and nutrition bar categories using a common infrastructure and suite of resources that are capable of building various growth brands.

The new venture, along with other future VMG platform concepts, will house a portfolio of brands that meet a range of consumer needs and usage occasions. It will offer only one source for retailers across brick and mortar and digital channels.

VSB CEO Amit Pandhi said: “With popchips as our anchor acquisition, we plan to grow brands that meet consumer demand and make better-for-you food more accessible.

“Through the growth and development of a world-class team at our home base in Los Angeles, we expect to be the leading destination for exceptional talent, innovation and brand building excellence throughout the snacking industry.”

VSB, as part of a cohesive business model, will offer snacking brands founders and entrepreneurs the opportunity to build upon initial momentum. It will also create a springboard for category-leading innovation and omnichannel implementation.