SAN FRANCISCO, May 11, 2010 (GLOBE NEWSWIRE) -- Diamond Foods, Inc. (Nasdaq:DMND) today announced that both Emerald and Pop Secret will be launching new items this summer.
Emerald snack nuts, which continues to be the fastest growing snack nut brand with a 55% increase in sales for the 12 weeks ended April 17th according to Nielsen, is launching two Cinnamon Roast Almond items this summer. Capitalizing on the success of its Cocoa Roast Almond, which is now the third largest sales dollar item in the almond category, the Cinnamon Roast items offer a similar indulgent flavor with no added calories due to its patent pending roasting process.
"Cinnamon Roast Almonds is a logical extension for us," said Jeff Ngo, Emerald brand Marketing Director for Diamond Foods. "The almond segment is the highest growth category in snack nuts and cinnamon has broad appeal as a key ingredient across a variety of food occasions and segments. Given the success of Cocoa Roast Almonds, we felt it was a good time to expand our Roasted line."
The new Cinnamon Roast Almonds will come in both Emerald's iconic 11 ounce portable green canister and the highly popular 100-Calorie portion control packs, a package style where Emerald has led innovation to enable consumers greater convenience to have low calorie healthy snacks on the go.
Pop Secret, which gained 170 basis points in market share over the prior year capturing 25% of the US Grocery market, is launching two new 4-count 100 Calorie flavors this summer. The 4-count 100 Calorie format offers a portion-control option that is perfect for snacking after school or at work. Pop Secret will offer this convenient package size in both 94% Fat Free Butter and 94% Fat Free Kettle Corn.
"Our new 4-count offering, combined with the launch of our new popping kernels item earlier this year, helps address 12% of the market that Pop Secret was not currently serving," said Andy Allcock, Pop Secret brand Marketing Director for Diamond Foods. "These new items along with Pop Secret's recent expanded distribution in the mass merchant trade channel should help the brand continue its successful trajectory."
Both Emerald and Pop Secret new items are expected to start shipping to retailers in early August.
About Diamond Foods
Diamond Foods is a high-growth innovative packaged food company focused on building, acquiring and energizing brands including Kettle® Chips, Emerald® snack nuts, Pop Secret® popcorn, and Diamond of California® culinary and snack nuts. The Company's products are distributed in a wide range of stores where snacks and culinary nuts are sold.
Corporate Web Site: www.diamondfoods.com
Consumer Web Sites: www.kettlefoods.com, www.kettlefoods.co.uk, www.emeraldnuts.com, www.popsecret.com, www.diamondnuts.com, www.feedyourfingers.com, www.UnderdogBracket.com
The Diamond Foods, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6112
Note regarding forward-looking statements: This release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements necessarily depend on assumptions may be incorrect and are subject to risks and uncertainties. Actual results could differ materially from projections made in this release. Some factors that could cause actual results to differ from our expectations include risks loss of key customers and an increase in competition. A more extensive list of factors that could materially affect our results can be found in Diamond's periodic filings with the Securities and Exchange Commission. They are available publicly and on request from Diamond's Investor Relations Department.