TA Associates Announces Partnership with SkinnyPop Founders
BOSTON - TA Associates, a leading global growth private equity firm, today announced a partnership with SkinnyPop Popcorn LLC founders Pam Netzky and Andy Friedman and food entrepreneur Jason Cohen to further build the brand and support continued innovation.
As part of that effort, SkinnyPop announced the addition of Tom Ennis, the former CEO of Oberto Brands, to the SkinnyPop executive team. Financial terms of TA’s investment in SkinnyPop were not disclosed.
Founded in 2010, SkinnyPop is a leading, innovation-focused marketer of ready-to-eat popcorn products. The brand was built with the goal of providing customers with a tastier and better-for-you alternative to traditional movie theater-style microwave and bagged popcorn products. The founders focused on creating a great tasting and simple product, including limiting ingredients while mandating that their core offerings be non-GMO, peanut free, tree nut free, dairy free and gluten free. The company’s products are distributed through club, grocery, drug, mass and convenience store channels and also are available in several international markets. SkinnyPop is headquartered in Skokie, Illinois.
“I am excited to partner with Pam and Andy to continue building the SkinnyPop brand,” said Tom Ennis, who recently joined SkinnyPop as Chief Executive Officer. “My primary goal is to adhere to the standards of excellence they have established. SkinnyPop has built something very unique by creating outstanding products and by building supportive partnerships.”
“Pam and Andy committed to a set of brand and company values that very much align with how we do business at TA Associates,” said William D. Christ, a Principal at TA Associates who will join the SkinnyPop Board of Directors. “Tom has a long history of preserving culture while also building outstanding brands. We all agree he is a great fit for SkinnyPop.”
“We are confident that we have found the right partner in TA Associates,” said Andy Friedman, Co-Founder of SkinnyPop. “TA understands growth company investing and we believe they can add significant value and resources to our business. TA will help us further solidify and build on our strong foundation.” Pam Netzky, Co-Founder of SkinnyPop, added, “We also are excited to have Tom on board. He is a seasoned and well-respected executive in the snacking industry. Tom’s experience will augment our historical efforts and we look forward to actively working with him and TA.”
Goodwin Procter LLP provided legal counsel to TA Associates. Much Shelist, P.C. served as legal counsel and Houlihan Lokey served as financial adviser to SkinnyPop.
About SkinnyPop Popcorn LLC
Founded in 2010, SkinnyPop Popcorn LLC is a Skokie, Illinois-based marketer of packaged popcorn products. Available in multiple flavors, SkinnyPop tries to make products that are “skinny on ingredients” while also only using non-GMO and major allergen-free ingredients. In early 2013, SkinnyPop partnered with food entrepreneur Jason Cohen to augment its sales capabilities and expand distribution. The products are sold largely through the club, grocery and drug channels and are available at more than 25,000 retail locations nationwide as well as in several international markets. Visit SkinnyPop on the web at www.skinnypop.com, or on Facebook, Twitter, LinkedIn and Google+.
About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 440 companies around the world and has raised $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at www.ta.com.