Great Plains Holdings, a Florida based company known for using creative stock offering arrangements to acquire small and middle market companies from baby-boom generation owners looking to retire, has announced an agreement to acquire 51% of Bonjoe Gourmet Chips LLC for stock and a working capital loan, with an option to acquire an additional 20% interest subject to the results of an in-store blitz marketing campaign featuring Bonjoe’s gourmet chips.
Bonjoe’s, also based in Florida, offers a range of uniquely flavored potato chips that are designed to be much healthier than traditional chips. Their proprietary preparation process reduces starches by up to 35%, while avoiding trans fats, cholesterol, and sugar. They also keep the peel and lower cooking temperatures to maintain natural vitamins. Among their 40+ flavors are Bacon Cheddar, Garlic, and Fried Pork Chop, along with such unique varieties as Jelly Donut and Chocolate. They’ve even been featured on Good Morning America.
A 90-day blitz test marketing campaign is now beginning, featuring Bonjoe’s gourmet chips in 100 new convenience stores in a select Florida market run by Mr. Checkout. The chips will be included in Mr. Checkout’s “What’s Hot Online Catalog”. Bonjoe’s also expects to have access to the download section of over 160 Walgreens managers, over 2,000 product brokers, and 920 grocery store contacts, plus a targeted eblast to distributors featuring new products recommended by Mr. Checkout.
The announcement references a recent Los Angeles Times article (http://dtn.fm/Qc0wx) where the U.S. Department of Agriculture says that the number of snacks consumed per day has doubled since the 1970s. The article also points to a Nielsen study showing that over 90% of Americans say that they nibble daily, amounting to a $28 billion annual industry for salty snacks alone.
Great Plains says that they plan to grow Bonjoe’s from a local chip phenomenon into a national brand. Upon closing of the purchase, Great Plains will appoint two of the three members of Bonjoe’s Board of Directors.
Great Plains Holdings seeks controlling stakes in small to middle sized companies in North American manufacturing, consumer products, distribution, real estate, and business services, a diversification model that enables the company to achieve multiple streams of revenue while consistently increasing hard assets and value.
For more information, visit www.GTPH.com