Great Plains Holdings has agreed to acquire controlling stake in Bonjoe Gourmet Chips for an undisclosed amount.
Earlier in December, Great Plains signed a letter of intent to acquire a 30% stake in Bonjoe Gourmet Chips which is now increased to 51%.
The deal also includes an option to acquire an additional 20% in Bonjoe.
Bonjoe Gourmet Chips offers over 40 flavors of chips that are made using a proprietary preparation process to reduce starches by up to 35%.
Made with natural herbs and spices, Bonjoe's chips are available in various flavors such as Fried Pork Chops and Garlic, Bacon Cheddar, Blue Cheese and Jelly Donut.
Great Plains CEO Kent Campbell earlier said: "Our planned investment in Bonjoe demonstrates management's commitment to increasing assets and revenues in mutually beneficial relationships.
"I am excited to say this adds one more potential revenue producing stream for Great Plains to increase shareholder value."
Upon closing of the acquisition, Great Plains will appoint two of the three members of Bonjoe's Board of Directors.
Bonjoe's gourmet chips' demand will be tested in 100 new convenience stores located in a select market in Florida run by Mr. Checkout, as part of a blitz marketing campaign.
Image: Made with natural herbs and spices, Bonjoe's chips are available in various flavors. Photo: courtesy of Naypong / freedigitalphotos.
