Diamond Foods is a major culinary nut company with the leading share in the US branded nut market. Its raw and unflavored produce is used by baking and produce departments and targets consumers who use nuts in cooking, baking, snacking, and making beverages. Retail customers include Albertsons and Wal-Mart. Diamond Foods has changed hands several times in recent years, with Snyder's-Lance buying its snack business and Blue Road Capital acquiring the traditional nut-growing business in 2017.
Strategy
Diamond of California's growth strategy is to create a modern brand that captures the consumer desire to incorporate more plant-based products in consumers' diets, for reasons including health and wellness, taste, texture and variety. It is overhauling its brand, including product, packaging, pricing, placement, marketing, and product development. On the marketing front, it has started working with social media influencers in conjunction with a San Francisco-based PR agency.
Company Background
In February 2012, Diamond Food's 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 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).
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