Our Home Acquires Pop Secret From Campbell’s
Our Home continues to expand via M&A as it constructs a next generation lineup of better-for-you snack brands.
The growing platform announced this week that Pop Secret has joined as the latest addition to its growing family of brands. Our Home acquired the nearly 40-year-old popcorn brand from Campbell Soup Company for an undisclosed sum.
“Acquiring Pop Secret marks Our Home’s expansion into the microwave popcorn category, strengthening our status as a premier independent snacking platform,” said Aaron Greenwald, founder and CEO of Our Home, in a press release. “The brand’s significant MULO consumption and widespread household recognition, combined with our extensive manufacturing capabilities, create a unique platform for growth and innovation in the market.”
According to Campbell’s, Pop Secret generated net sales of $120 million in fiscal 2024. However, per Circana data from July, both of the brand’s formats – microwave popcorn and kernel popcorn – notched double digit, year-over-year sales declines, falling 11.2% to $172 million and 17.7% to $3.9 million, respectively, in mulo and c-stores. Both formats also saw volume declines of 12.2% and 17.2%, respectively.
The transaction is expected to dilute Campbell’s FY25 earnings per share by approximately $0.04, according to a release, due to the timing of the transaction and cost actions.
“This marks another step in our journey to strategically focus our Snacks portfolio. The sale of Pop Secret will drive greater focus and accelerated growth across our Snacks division and portfolio of leading brands,” said Chris Foley, EVP and president of Campbell’s Snacks.
However, Our Home sees the deal as an opportunity which “significantly enhances” its broader portfolio, highlighting the brand will reinforce its “commitment to providing innovative and better-for-you products,” the release states.
The Our Home platform formed via the growth of veggie-forward snack brand Real Food From The Ground Up, and later the introduction of sister snack brand YOU NEED THIS – thus creating the Powered by Real Food From The Ground Up platform, Our Home’s former moniker.
Those two brands were squarely focused on better-for-you, simple ingredient lists. And even the businesses that were later added to the portfolio – including Popchips in late 2022 and Food Should Taste Good in early 2023 – all honed a discernible focus on the BFY space. Earlier this year, Our Home bought the R.W. Garcia and Good Health brands from Utz along with two production facilities. In May, the company added Sonoma Creamery’s snack platform.
Those moves all contributed to Our Home’s better-for-you position. But, notably, this brings the portfolio closer to the conventional snacking space with products made with palm oil and natural flavors.
