Private Equity Company Acquires popchips
US snack company popchips was recently acquired by private equity company VMG Partners. The former has purchased the snacking brand under its newly-created healthy snacks incubating platform Velocity Snack Brands (VSB) for an undisclosed sum.
VMG Partners has previously invested in various up-and-coming snack brands such as KIND Snacks, Perfect Bars and Quest Nutrition, some of which were later acquired by large CPG companies including Hershey and Mondelēz.
popchips was founded in 2007 by Keith Belling, an entrepreneur, and Patrick Turpin. Its products range from original rounds and ridges popped potato snacks to Yes Peas and Nutter Puffs.
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.
As the inaugural brand under the VSB platform, popchips will be led by VSB CEO, Amit Pandhi. Before joining VSB, Pandhi served as president and CEO of Arctic Zero, a low-calorie ice cream brand. Pandhi currently serves as a board member for Dang Foods, Bright Foods, and Nutista. In his new role, Pandhi will provide data-driven execution and support to VSB brands, entrepreneurs and founders as the portfolio of brands builds additional scale.