General Mills Acquires Food Should Taste Good
Natural snack food business expands company's natural and organic portfolio
Published in CSP Daily News
MINNEAPOLIS -- General Mills has acquired Food Should Taste Good, a natural snack foods company based in Needham Heights, Mass. Food Should Taste Good will become part of Small Planet Foods, General Mills' natural and organic products business and will join the division's category-leading Cascadian Farm, Muir Glen and Larabar brands.
"This acquisition further positions us for continued growth with a great new brand in an entirely new category in our natural and organic business," said Michele Meyer, president of Small Planet Foods. "Food Should Taste Good is a strong brand with high-quality products and tremendous potential--and we are fully committed to maintaining the great-tasting, all-natural Food Should Taste Good snacks that consumers love."
Pete Lescoe founded Food Should Taste Good in 2006 with the goal of making a unique new snack with great taste, healthy ingredients, and sophisticated flavor--the qualities he is most passionate about in food. Today, Food Should Taste Good makes natural tortilla chips in a variety of flavors such as Sweet Potato, Lime, Olive, Chocolate, Multigrain and Jalapeno. Food Should Taste Good's product portfolio also includes kettle cooked sweet potato chips and other natural snacks.
Lescoe will continue with the business as creative director.
"I'm proud of the rapid growth and success Food Should Taste Good has achieved, and I look forward to working with Small Planet Foods and General Mills to continue this momentum," said Lescoe. "With its legacy of food innovation and quality, portfolio of iconic brands and leading corporate social responsibility efforts, General Mills is a perfect fit for Food Should Taste Good."
Terms of the deal were not disclosed.
Small Planet Foods was established in 2000 when General Mills purchased the Cascadian Farm and Muir Glen businesses. Since that time, General Mills has established a strong U.S-based natural and organic business that has grown at a double-digit compound annual growth rate. The company added the all-natural Larabar brand to the Small Planet Foods portfolio in 2008 and, with the purchase of Food Should Taste Good, now competes in 14 categories in the natural and organic segment.
General Mills is one of the world's leading food companies, operating in more than 100 countries. Its consumer brands include Cheerios, Haagen-Dazs, Nature Valley, Yoplait, Betty Crocker, Pillsbury, Green Giant, Progresso and Old El Paso. Based in Minneapolis, General Mills had fiscal 2011 net sales of $14.9 billion.