Fast-growing Siggi’s Yogurt, the Icelandic-style yogurt brand, is the latest natural food products brand looking for a potential sale with help from investment banker JPMorgan, CNBC reports.
The company, which pioneered transparency, natural ingredients, and low sugar in the yogurt industry, expects 50% growth next year and more than $200 million in sales, according to CNBC. This year alone, it says, the company’s sales grew 73%, despite yogurt sales dropping 2.5% and Greek yogurt sales down 4.8%.
Industry experts speculate General Mills could be a good fit for Siggi’s, as its yogurt sales declined significantly in the past quarter. General Mills introduced Oui by Yoplait in June, however, many believe that purchasing Siggi’s would be a smarter investment than attempting to rebrand Yoplait into a “Siggi’s-esque product,” according to Food Dive.
Siggi’s is not the first up-and-coming natural food brand to spark the interest of larger corporations. Recently, Danone sold its organic Stonyfield yogurt to family-owned French dairy company Lactalis for $875 million, Conagra acquired BOOMCHICKAPOP popcorn’s parent company Angie’s Artisan Treats, and Kellogg acquired RX Bar for $600 million.
Published on WholeFoods Magazine Online, 10/16/17