News

May 20, 2023

Flagstone Foods Expands Into Branded Nuts Segment

MINNEAPOLIS — Flagstone Foods, one of the largest manufacturers and distributors

MINNEAPOLIS — Flagstone Foods, one of the largest manufacturers and distributors of private label snack nuts and trail mixes in North America, is growing its portfolio with the acquisition of Emerald Nuts from Campbell Soup Co.

"Flagstone Foods has long been trusted by the nation's premier retailers to provide the highest quality snacks. Emerald has been providing high-quality branded snack nuts since 2004 and is now the go-to option for consumers seeking better-for-you snacking on the go," said Flagstone Foods CEO Harry Overly. "Adding Emerald Nuts to our portfolio establishes a new avenue for Flagstone to service our customers with innovative snack products and unites two industry leaders with a shared commitment to the highest levels of product quality and innovation.

"Our Flagstone team is excited to welcome Emerald as a transformative acquisition to our portfolio and we're looking forward to continuing to drive growth for both Flagstone and our retail partners," he added.

For nearly 20 years, Emerald has built a reputation for quality and innovation, known for items such as grab-and-go 100 calorie packs and assorted glazed nut products.

[Read more: Taste Reigns Supreme When It Comes to Snacking]

Flagstone operates three plants located in Robersonville, N.C.; El Paso, Texas; and Dothan, Ala. The distributor's more than 800 team members source, process, package and distribute nuts, trail mixes and other wholesome snacks to premier retail customers across the country.

Willkie Farr & Gallagher LLP served as legal advisor and Piper Sandler & Co. served as financial advisor to Flagstone.

In 2019, Flagstone was acquired by Atlas Holdings. In late 2022, the company hired Overly to accelerate Flagstone's growth as a snacking solutions provider.

In addition to manufacturing nuts and trail mixes, Flagstone also manufactures ingredients for commercial use, provides contract manufacturing services to branded food companies and offers a wide array of value-added services including consumer insights, global sourcing and commodity advising and product development.