Flagstone Foods Acquires Emerald Nuts Brand
Flagstone Foods, a Minneapolis, Minn.-based manufacturer and distributor of private label snack nuts and trail mixes, has acquired the Emerald Nuts brand from Campbell Soup Company.
Founded in 2004, Emerald Nuts is known for items such as grab-and-go 100 calorie packs and assorted glazed nut products. The move to acquire the brand is an acceleration of growth for the supplier.
Flagstone operates three plants, located in Robersonville, N.C., El Paso, Texas and Dothan, Ala., where the company employs more than 800 team members.
"Flagstone Foods has long been trusted by the nation's premier retailers to provide the highest quality snacks,” said Harry Overly, CEO of Flagstone Foods. “Emerald has been providing high-quality branded snack nuts since 2004 and is now the go-to option for consumers seeking better-for-you snacking on the go. Adding Emerald Nuts to our portfolio establishes a new avenue for Flagstone to service our customers with innovative snack products and unites two industry leaders with a shared commitment to the highest levels of product quality and innovation.”
The Emerald business generated net sales of $66 million in fiscal 2022 and $46 million for the nine-month period ended April 30, 2023, according to Campbell Soup Company. The company said it does not expect the divestiture to have a material impact to its fiscal 2023 financial results. Terms of the sale were not disclosed.
“The sale of the Emerald business is part of our ongoing strategic process to create even greater focus on driving accelerated growth across our Snacks division and power brands,” said Chris Foley, EVP and president of Campbell Snacks.