Diamond Foods was an American packaged food company based in San Francisco, that marketed nuts (particularly walnuts and almonds) and other snack foods. Diamond Foods was acquired by Snyder's-Lance in 2016, and as of 2018, Campbell Soup Company owns Diamond Foods's former snack brands; Diamond of California, Diamond Foods's nut business, is owned by Blue Road Capital.[1]
The company was founded in 1912 as Diamond Walnut Growers, Inc., a member-owned Californian agricultural cooperative association. In July 2005, Diamond Walnut Growers converted to a Delaware corporation and initial public offering of stock as Diamond Foods.
Timelineedit
1912: Diamond was founded as a cooperative by a group of Californian walnut growers.
1919: Diamond was the first nut producer to launch a national advertising campaign.
1930: Diamond started to sell its nuts abroad.
1950: Diamond became the first nut company to advertise on TV.
2004: The Emerald Nuts line of snack nuts was launched.
2005: Diamond of California became Diamond Foods, Inc., and became a publicly traded company (NASDAQ DMND).
2006: Diamond acquired Harmony Foods, including an Indiana production facility.
2007: Diamond’s Super Bowl spot featuring Robert Goulet ranked as the number one ad by Advertising Age and resulted in a 68 percent sales increase of Emerald.
2008: Diamond acquired Pop Secret popcorn from General Mills.
2009: Emerald hits ten percent share of the snack nut market in U.S. food stores.
2010: Diamond acquired Kettle Foods potato chip company with operations in the U.S. and the U.K.[3]
2011: Diamond and Procter & Gamble announced that Pringles would merge with Diamond. The deal was expected to close by June 2012.[4]
2012: The company is troubled by an accounting scandal and the Pringles deal is cancelled.[5]
2013: Following the accounting scandal of 2012, on January 18, 2013, Diamond Foods officially ceases all production at its Fishers, Indiana plant. Over 100 full-time employees are fired and the Harmony brand is permanently discontinued.
2014: The SEC authorized a settlement in regards to the 2012 accounting scandal. The SEC separately entered into a settlement with the former CEO, Michael Mendes. SEC litigation with the former CFO, Steven Neil, remained unresolved.[6]
2015: The SEC entered into a settlement with Steven Neil in regards to the 2012 accounting scandal.[7]
2016: Snyder's-Lance acquired Diamond Foods and all companies under the Diamond Foods Name.
2017: Snyder's-Lance sold the Diamond of California culinary nut business to Blue Road Capital.[8]
Diamond Foods brandsedit
Diamond Foods has five product lines:
Diamond Foods’ line of potato chips are sold under the Kettle Brand label in the United States and Kettle Chips brand in the United Kingdom. They are available in a variety of flavors, styles and package sizes.
Diamond Foods’ snack nuts are sold under the Emerald brand, and include trail mix, roasted, glazed and flavored snack nut products and other snacks. The product line includes 100 Calorie pack sizes.
Diamond Foods’ popcorn, in both kernels and various flavors of microwave popcorn, is sold under the Pop Secret brand. The product line includes Homestyle microwave popcorn and items such as 94% Fat Free and 100 Calorie snack size.
In-shell and culinary nuts are sold under the Diamond of California brand. In-shell nuts are typically sold in grocery store produce sections during the winter holiday season. Culinary nuts are sold in the baking aisle of grocery, mass, club and other retailers.
North American and International Ingredient and Food Service products include Diamond of California brand in-shell nuts, shelled and processed nuts, glazed nuts, and custom-processed nuts for food processors, restaurants, bakeries and food service companies and suppliers.
Each of the snack product lines has “better-for-you” options including 100-calorie packs, 94% Fat Free popcorn and both baked potato chips with 65% less fat than traditional potato chips and a reduced fat chip with 40% less fat.
^Bloomberg News (February 26, 2010). "Kettle Foods of Salem sold for $615M". OregonLive.com. Retrieved 27 February 2010.
^Press Release (November 1, 2011). "Diamond Foods Provides Update on Pringles Transaction". Diamond Foods. Retrieved 14 November 2011.
^"Insight: Seeds of trouble sown at Diamond Foods years ago". Reuters. 2012-03-19.
^"SEC Charges Diamond Foods and Two Former Executives Following Accounting Scheme to Boost Earnings Growth". www.sec.gov. Retrieved 23 May 2018.
^"Steven Neil (Release No. LR-23192; February 6, 2015)". www.sec.gov. Retrieved 27 Aug 2018.
^"Snyder's-Lance Announces Divestiture of Diamond of California® Culinary Nut Business (NASDAQ:LNCE)". ir.snyderslance.com.
External linksedit
“Diamond Chews on Acquisitions” San Francisco Business Times, September 3, 2010
"Diamond walnut co-op files for IPO"; Sacramento Business Journal, March 25, 2005
Historical business data for Diamond Foods:
SEC filings
January 01, 1970
diamond, foods, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, scholar, jstor, february, 2. This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Diamond Foods news newspapers books scholar JSTOR February 2012 Learn how and when to remove this message Diamond Foods was an American packaged food company based in San Francisco that marketed nuts particularly walnuts and almonds and other snack foods Diamond Foods was acquired by Snyder s Lance in 2016 and as of 2018 Campbell Soup Company owns Diamond Foods s former snack brands Diamond of California Diamond Foods s nut business is owned by Blue Road Capital 1 Diamond Foods Inc Company typePublic companyTraded asNasdaq DMNDIndustryConsumer packaged goodsFounded1912 112 years ago 1912 Defunct2016 8 years ago 2016 Fateacquired split upHeadquartersStockton California U S Area served100 countriesParentBlue Road Capital Contents 1 History 1 1 Timeline 2 Diamond Foods brands 3 Production 4 References 5 External linksHistory editThe company was founded in 1912 as Diamond Walnut Growers Inc a member owned Californian agricultural cooperative association In July 2005 Diamond Walnut Growers converted to a Delaware corporation and initial public offering of stock as Diamond Foods Timeline edit 1912 Diamond was founded as a cooperative by a group of Californian walnut growers 1919 Diamond was the first nut producer to launch a national advertising campaign 1930 Diamond started to sell its nuts abroad 1950 Diamond became the first nut company to advertise on TV 1956 Diamond centralized its operations to Stockton California 1989 Diamond was the first company to adopt laser sorters in its processing plant to eliminate shell fragments 1997 Japan became Diamond s number one export market for shelled walnuts 1998 Diamond introduced a full line of shelled packaged nuts for baking and cooking and became the number one global marketer of in shell nuts 1999 Diamond changed its name to Diamond of California 2000 2002 and 2004 Diamond was the exclusive nut supplier to the U S Olympic teams 2004 J Stone amp Son merged with Diamond Foods 2 2004 The Emerald Nuts line of snack nuts was launched 2005 Diamond of California became Diamond Foods Inc and became a publicly traded company NASDAQ DMND 2006 Diamond acquired Harmony Foods including an Indiana production facility 2007 Diamond s Super Bowl spot featuring Robert Goulet ranked as the number one ad by Advertising Age and resulted in a 68 percent sales increase of Emerald 2008 Diamond acquired Pop Secret popcorn from General Mills 2009 Emerald hits ten percent share of the snack nut market in U S food stores 2010 Diamond acquired Kettle Foods potato chip company with operations in the U S and the U K 3 2011 Diamond and Procter amp Gamble announced that Pringles would merge with Diamond The deal was expected to close by June 2012 4 2012 The company is troubled by an accounting scandal and the Pringles deal is cancelled 5 2013 Following the accounting scandal of 2012 on January 18 2013 Diamond Foods officially ceases all production at its Fishers Indiana plant Over 100 full time employees are fired and the Harmony brand is permanently discontinued 2014 The SEC authorized a settlement in regards to the 2012 accounting scandal The SEC separately entered into a settlement with the former CEO Michael Mendes SEC litigation with the former CFO Steven Neil remained unresolved 6 2015 The SEC entered into a settlement with Steven Neil in regards to the 2012 accounting scandal 7 2016 Snyder s Lance acquired Diamond Foods and all companies under the Diamond Foods Name 2017 Snyder s Lance sold the Diamond of California culinary nut business to Blue Road Capital 8 Diamond Foods brands editDiamond Foods has five product lines Diamond Foods line of potato chips are sold under the Kettle Brand label in the United States and Kettle Chips brand in the United Kingdom They are available in a variety of flavors styles and package sizes Diamond Foods snack nuts are sold under the Emerald brand and include trail mix roasted glazed and flavored snack nut products and other snacks The product line includes 100 Calorie pack sizes Diamond Foods popcorn in both kernels and various flavors of microwave popcorn is sold under the Pop Secret brand The product line includes Homestyle microwave popcorn and items such as 94 Fat Free and 100 Calorie snack size In shell and culinary nuts are sold under the Diamond of California brand In shell nuts are typically sold in grocery store produce sections during the winter holiday season Culinary nuts are sold in the baking aisle of grocery mass club and other retailers North American and International Ingredient and Food Service products include Diamond of California brand in shell nuts shelled and processed nuts glazed nuts and custom processed nuts for food processors restaurants bakeries and food service companies and suppliers Each of the snack product lines has better for you options including 100 calorie packs 94 Fat Free popcorn and both baked potato chips with 65 less fat than traditional potato chips and a reduced fat chip with 40 less fat Production editThe company has about 1400 full time employees in Wisconsin Indiana Tennessee Alabama and the United Kingdom Diamond does not grow any of its own crops it purchases raw material from domestic and international sources Diamond products are processed and packaged at facilities in Stockton California Salem Oregon Van Buren Indiana Beloit Wisconsin Robertsdale Alabama and Norwich in the United Kingdom References edit Blue Road Capital Agrees to Acquire Diamond of California Nut Brand from Snyder s Lance Global AgInvesting 29 November 2016 LexisNexis Enterprise Solutions Bloomberg News February 26 2010 Kettle Foods of Salem sold for 615M OregonLive com Retrieved 27 February 2010 Press Release November 1 2011 Diamond Foods Provides Update on Pringles Transaction Diamond Foods Retrieved 14 November 2011 Insight Seeds of trouble sown at Diamond Foods years ago Reuters 2012 03 19 SEC Charges Diamond Foods and Two Former Executives Following Accounting Scheme to Boost Earnings Growth www sec gov Retrieved 23 May 2018 Steven Neil Release No LR 23192 February 6 2015 www sec gov Retrieved 27 Aug 2018 Snyder s Lance Announces Divestiture of Diamond of California Culinary Nut Business NASDAQ LNCE ir snyderslance com External links edit Diamond Chews on Acquisitions San Francisco Business Times September 3 2010 Diamond walnut co op files for IPO Sacramento Business Journal March 25 2005 Historical business data for Diamond Foods SEC filings Retrieved from https en wikipedia org w index php title Diamond Foods amp oldid 1191920041, wikipedia, wiki, book, books, library,
