Mexican baker Grupo Bimbo enters the premium, ready-to-eat popcorn category with the acquisition of Popcornopolis from venture fund NexPhase Capital, according to several media reports. It's also a deeper step into ecommerce.
Popcornopolis is a Los Angeles-based company with almost all revenue coming from ecommerce. Most products are gift baskets and assortments; in addition to the classics buttered, caramel and cheese, flavors include cinnamon toast, cookies & cream and hot chocolate & marshmallow.
Forbes magazine estimated sales at nearly $72 million and guessed the transaction cost $200 million. The unit will operate under Grupo Bimbo’s U.S. snacks division Barcel USA.
