EX-99.2
4
f43755exv99w2.htm
EXHIBIT 99.2
exv99w2
Exhibit 99.2
Diamond Foods Completes Acquisition of Pop Secret
®
SAN FRANCISCO, CA, September 15, 2008
-
Diamond Foods, Inc.
(NASDAQ: DMND), a leading branded food
company specializing in processing, marketing and distributing culinary nuts and snack products
under the Diamond
®
and Emerald
®
brands, today announced that it completed the
acquisition of the Pop Secret
®
popcorn business from General Mills, Inc. (NYSE: GIS) for
approximately $190 million in cash. The purchase was funded, in part, by a new five year $250
million unsecured credit facility. The facility, led by Bank of America, N.A., replaces the
Company's previous credit facilities and senior notes.
Michael J. Mendes, President and CEO of Diamond Foods, stated, "We want to welcome Pop Secret into
the Diamond Foods family. Pop Secret extends our tradition of offering consumers high quality,
nutritionally dense foods, and we look forward to generating excitement and growth in the microwave
popcorn category".
Introduced in 1985, Pop Secret is the second largest player in the microwave popcorn category and
commands a 25 percent share in U.S. food stores. Pop Secret is available in a variety of formats
such as 100 calorie and snack size packages as well as a variety of flavors such as Butter,
Homestyle and Kettle Corn.
Contacts:
Investors:
Media:
Bob Philipps
David Conner
VP, Treasury & Investor Relations
Access Communications
415.445.7426
415.844.6233
bphilipps@diamondfoods.com
dconner@accesspr.com
Corporate Web Site:
http://www.Diamondfoods.com
Consumer Web Sites:
http://www.emeraldnuts.com/
and
www.Diamondnuts.com/
# # #
1

EX - 99 . 2 4 f43755exv99w2 . htm EXHIBIT 99 . 2 exv99w2 Exhibit 99 . 2 Diamond Foods Completes Acquisition of Pop Secret ® SAN FRANCISCO , CA , September 15 , 2008 - Diamond Foods , Inc . ( NASDAQ : DMND ) , a leading branded food company specializing in processing , marketing and distributing culinary nuts and snack products under the Diamond ® and Emerald ® brands , today announced that it completed the acquisition of the Pop Secret ® popcorn business from General Mills , Inc . ( NYSE : GIS ) for approximately $ 190 million in cash . The purchase was funded , in part , by a new five year $ 250 million unsecured credit facility . The facility , led by Bank of America , N . A . , replaces the Company 's previous credit facilities and senior notes . Michael J . Mendes , President and CEO of Diamond Foods , stated , " We want to welcome Pop Secret into the Diamond Foods family . Pop Secret extends our tradition of offering consumers high quality , nutritionally dense foods , and we look forward to generating excitement and growth in the microwave popcorn category " . Introduced in 1985 , Pop Secret is the second largest player in the microwave popcorn category and commands a 25 percent share in U . S . food stores . Pop Secret is available in a variety of formats such as 100 calorie and snack size packages as well as a variety of flavors such as Butter , Homestyle and Kettle Corn . Contacts : Investors : Media : Bob Philipps David Conner VP , Treasury & Investor Relations Access Communications 415 . 445 . 7426 415 . 844 . 6233 bphilipps@diamondfoods.com dconner@accesspr.com Corporate Web Site : http://www.Diamondfoods.com Consumer Web Sites : http://www.emeraldnuts.com/ and www.Diamondnuts.com/ # # # 1