Annie's, Inc., a natural and organic food company, completed its $6 million acquisition of Safeway's snack manufacturing plant in Joplin, Missouri
. The facility has been Annie's primary manufacturer of cookie and cracker products since the inception of its snacks business in 2002.
Annie's Baking, a subsidiary of Annie's, Inc., acquired the plant, plus the actual cost of inventory and supplies on hand at closing. According to the company, acquisition was funded with approximately $7.4 million in cash on hand. Concurrent with the closing of the transaction, Annie's Baking, LLC also entered into a supply agreement to produce products on behalf of an affiliate of Safeway Inc. for a period of three years.
"We are very excited to become a part of the Joplin community and to welcome the plant's employees to the Annie's family," said John Foraker, CEO of Annie's. "The Joplin plant has been a valued manufacturing
partner of Annie's since our introduction of Cheddar Bunnies crackers over a decade ago. We see a bright future in our snacks business, and I am confident that the capacity and capabilities provided by the Joplin plant and its dedicated workforce
will help us achieve our significant long-term growth potential."
Annie's offers over 135 products, made without artificial flavors, synthetic colors and preservatives, and is present in over 26,500 retail locations in the United States and Canada.