About Diamond Foods, Inc.

Diamond Foods has come out of its shell. While the company still sells plenty of walnuts, peanuts, almonds, and other varieties of nuts, primarily under the Diamond and Emerald brands, snacks are a growing part of its business. Diamond Foods sells microwave popcorn under the Pop Secret brand and Kettle brand potato chips. The snack food maker sells its products to food retailers: Wal-Mart and Costco combined account for about 30% of sales. Non-retail nut customers include food processors, restaurants, bakeries and food service operators. The company was founded in 1912 as Diamond Walnut Growers and is being acquired by fellow snack maker Synder's-Lance.

Geographic Reach

San Francisco-based Diamond Foods has production facilities in California, Indiana, Oregon, Wisconsin, and Norwich, England. In addition to US markets, it also does business internationally, mainly in the UK, Germany, Spain, the Netherlands, Turkey, Japan, and South Korea. The company rings up more than three-quarters of its sales in the US, and about 15% in Europe.


The company owns no nut groves of its own; instead, it buys from growers. During fiscal 2012 (ends July) all the walnuts, peanuts, and almonds, and most hazelnuts, were sourced in the US; pecans came from the US and Mexico. It imported Brazil nuts from the Amazon basin; cashews from India, Africa, Brazil, and Southeast Asia; and pine nuts from China and Turkey. Other agricultural commodities it needs for production, such as corn and potatoes, were provided by growers in the US and UK.

Sales and Marketing

The company's products are sold in more than 60,000 US retail locations and are available in some 100 other countries. Diamond plans to expand its retail distribution outlets to include more drug, convenience, and club stores, as well as mass merchandisers.

Major customers include Wal-Mart Stores and Costco, which accounted for 18% and 12% of fiscal 2012 (ends July) sales, respectively.

Financial Performance

Diamond's fiscal 2012 (ends July) sales rose by about 1.5% vs. the prior year, on increased snack sales and increased culinary and retail in-shell sales. The company was unprofitable in 2012, posting a net loss of about  $86 million, and cash flow from operations plunged as well. Diamond Foods blamed the loss on a decline in walnut crop deliveries and higher commodities costs, particularly for walnuts. Also, cost related to its unsuccessful bid for Pringles hurt the company's bottom line.


Diamond Foods is pursuing a strategy of increasing its market share in the snack-food sector. However, a bid to acquire Pringles from Procter & Gamble  for $1.5 billion -- and thus become the second-largest snack company in terms of retail sales behind  behind PepsiCo-owned Frito-Lay -- fell through in February 2012 due to an internal investigation into the company's payments to walnut growers. The board of Diamond Foods then announced that it was restating its financial results for two years and had replaced its CEO and CFO. The company had better success acquiring Kettle Foods in 2010 and the Pop Secret brand from General Mills (2008). 

The company became an acquisition target itself in 2015 when it agreed to be acquired by Snyder's-Lance, the maker of Cape Cod chips, Lance crackers, and Synder's of Hanover pretzels, for about $1.3 billion.

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Diamond Foods, Inc.

600 Montgomery St Fl 13
San Francisco, CA 94111-2715
Phone: 1 (415) 445-7444
Fax: 1 (866) 754-9479


  • Employer Type: Public
  • Stock Symbol: DMND
  • Stock Exchange: NASDAQ
  • President and CEO: Brian J. Driscoll
  • President and CEO: Brian J. Driscoll
  • Chairman: Robert J. Zollars

Major Office Locations

  • San Francisco, CA

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