SkinnyPop

SkinnyPop is a snack brand that manufactures and sells popcorn products. The company is owned by Hershey Co., headquartered in Austin, Texas and sells internationally.

SkinnyPop

Founded	2010
Founder	Andy Friedman, Pam Netzky
Headquarters	Austin, Texas
Products	Popcorn
Owner	Hershey Company
Website	Skinnypop.com

SkinnyPop company logo. Copyright: All rights reserved by SkinnyPop Popcorn.

History

SkinnyPop was founded in Skokie, Illinois by Andy Friedman and Pam Netzky, with investors Jeffrey and Michael Eiserman.[1][2] Friedman and Netzky first entered the popcorn business in 2007 when they launched Wells Street Popcorn, which they sold in grocery stores and theaters near Chicago. In 2010, Friedman and Netzky developed a new popcorn recipe and launched a separate brand from Wells Street, which they named SkinnyPop Popcorn.[3][4] The first thousand bags of SkinnyPop were hand-produced by the company's founders and sold locally in Chicago stores. In October 2010, SkinnyPop signed with a distributor. [2][3] Due to time constraints from managing two brands, Friedman and Netzky franchised Wells Street Popcorn to Netzky’s cousin at the end of 2010.[3]

By 2012, SkinnyPop was being manufactured in Chicago and distributed to 4,500 retail stores.[3] In early 2013, the company partnered with a food industry entrepreneur Jason Cohen to grow sales and distribution.[1] That year, SkinnyPop recorded $44 million in sales.[5] By August 2014, SkinnyPop was being sold in 25,000 retail stores in the United States as well as internationally. That same year, Friedman and Netzky sold their majority stake in the company to TA Associates for $320 million. [6][1] TA Associates hired Tom Ennis, former president of Oberto Brands, to be the company’s CEO and reincorporated SkinnyPop as Amplify Snack Brands.[5][1]

Initial public offering and sale to Hershey

Amplify Snack Brands went public in 2015 with an initial public offering of $18 per share. That year, the company’s sales were $176.9 million. Amplify shares hit a low in January 2016. They recovered later that year, but did not reach the initial IPO. In 2016, sales grew to $326.9 million.[5][7] In December 2017, Hershey Co. purchased Amplify Snack Brands for $1.6 billion at $12 a share.[8]

Products

SkinnyPop’s original pre-popped popcorn was launched in 2010 and was made with sunflower oil and salt. Different flavors were later introduced.[3] The company released a microwave popcorn product in 2017.[7][5] Its other products have included popcorn puffs and cakes.[8][9]

References

1. Wernau, Julie. "Skokie-based SkinnyPop partners with private equity firm". chicagotribune.com. Retrieved 2018-10-02.
2. "The Popcorn Magnate | Michigan Alumnus". Michigan Alumnus. 2015-08-24. Retrieved 2018-10-02.
3. Confidential, Melissa Harris' Chicago. "Business is popping for healthier snack". chicagotribune.com. Retrieved 2018-10-02.
4. "SkinnyPop co-founder cooking up $10.6 million house in Lincoln Park". Crain's Chicago Business. Retrieved 2018-10-02.
5. "Terms of Service Violation". www.bloomberg.com. Retrieved 2018-10-02.
6. "SkinnyPop co-founder cooking up $10.6 million house in Lincoln Park". Crain's Chicago Business. Retrieved 2018-10-02.
7. "SkinnyPop Tries Its Halo on Microwave Popcorn". Retrieved 2018-10-02.
8. Monica, Paul R. La. "Sweet and salty! Hershey buys SkinnyPop maker". CNNMoney. Retrieved 2018-10-02.
9. "Amplify c.e.o. expects rebound in ready-to-eat popcorn". Retrieved 2018-10-02.