Kameda Seika has sold Mary’s Gone Crackers to a subsidiary of Dare
Mary’s Gone Crackers
Mary’s Gone Crackers (MGC) is a leading manufacturer of deliciously organic, gluten-free baked snacks. Founded in 2004 and headquartered in Reno, Nevada, the company has grown to become one of the largest producers in the attractive and growing organic, gluten-free snack market, offering a diverse range of plant-based products crafted with sustainably sourced ingredients. For more information, please visit marysgonecrackers.com.
The Deal
Kameda Seika Co. Ltd. (Kameda), a Japanese snack manufacturer, acquired MGC in 2012, partnering with the founders to drive expansion in the United States and abroad. Kameda made meaningful investments in the company, including a state-of-the-art manufacturing facility in Reno, Nevada. Kameda engaged Lincoln International to explore strategic alternatives for MGC as part of a broader restructuring of its U.S. business strategy. Lincoln ran a targeted process, which resulted in MGC partnering with Dare Foods, a Canada-based branded snack food manufacturer.
Our Perspective
David Houser, Lincoln International Managing Director who led the transaction, commented, “This transaction demonstrates the attractiveness and continued demand for snacking businesses in the ‘better-for-you’ subcategory. MGC is a pioneering brand with an array of attractive product certifications that consumers are actively seeking. We expect Dare Foods will be able to extract meaningful synergies given the product and channel overlap. The successful outcome on this transaction also highlights the benefits of Lincoln’s global reach and our ability to successfully collaborate on cross-border transactions.”
Kameda Seika Co., Ltd.
Kameda Seika, publicly listed on the Tokyo Stock Exchange, is Japan’s leading rice cracker manufacturer. Founded in September 1946 and incorporated in August 1957, the company is headquartered in Niigata, Japan—a region celebrated for its premium rice production. Kameda’s products range from traditional Japanese staples to innovative, health-conscious snacks, catering to a diverse consumer base. Kameda has branches in Japan, China, Vietnam, Thailand, Cambodia, the U.S. and India and has over 4,000 employees. For more information, please visit kamedaseika.co.jp.
Dare Foods Limited
Founded in 1889, Dare Foods is a privately held Canadian food manufacturer renowned for its diverse range of high-quality snack products, including cookies, crackers, fine breads and candies. Headquartered in Cambridge, Ontario, the company has been family-owned since its inception and has eight manufacturing plants and a team of over 1,400 dedicated employees across the U.S. and Canada. For more information, please visit darefoods.com.
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