Tom's Snacks: Difference between revisions
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In 2005, Lance Inc. won the bid to acquire Tom’s Foods. Lance has since changed the name to Tom’s Snacks Co.. Today Lance distributes Tom’s products across the country expanding their brand recognition |
In 2005, Lance Inc. won the bid to acquire Tom’s Foods. Lance has since changed the name to Tom’s Snacks Co.. Today Lance distributes Tom’s products across the country expanding their brand recognition. |
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==Products== |
==Products== |
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Revision as of 23:23, 26 November 2009
 | This article's lead section may be too short to adequately summarize the key points. (September 2009) |
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| File:Toms logo.jpg | |
| Company type | Corporation |
|---|---|
| Industry | Snack food |
| Founded | 1925 |
| Founder | Tom Huston |
| Headquarters | , |
Key people | David Singer CEO |
| Website | Tom's Snacks |
Tom's Snacks Co. is an American snack food company founded in Columbus, Georgia. It is a subsidiary of Lance Inc..
History
The Beginning
In 1925, Tom Huston founded “Tom’s Roasted Peanuts”, and began selling his peanuts for a nickel a bag. Within two years, Tom’s peanuts were being sold around the country generating US$4 million in sales. However, due to unpaid notes Huston lost the company to the bank. In 1932, Walter Richards bought Tom’s from the bank and took the company public. By the 1950’s sales reached US$16 million.
Changes in Ownership
In 1966, General Mills acquired Tom's for US$75 million, and changed the name to “Tom's Foods”. In the 1970's, General Mills attempted to launch Tom's chips into national supermarkets. However, the campaign failed due the lack of national attention. By 1983, Tom's had changed ownership again. Rowntree-Mackintosh paid US$215 million to acquire the company. During their ownership, they launched a franchise program for their distributors. Due to the lack of sales, the company was once again sold. TF Acquisition Corporation took over the company in 1988 paying US$200 million. Under this new ownership, they opened new chip plants in Georgia and Tennessee expanding their network of independent distributors. Tom's had goals of increasing sales to up over US$400 million over the next five years. Their goals fell short, and in 1993 Heico Acquisitions took the company over. Over the next couple years, sales suffered falling to US$200 million. As a result Tom's Foods had declared bankruptcy.
Today
In 2005, Lance Inc. won the bid to acquire Tom’s Foods. Lance has since changed the name to Tom’s Snacks Co.. Today Lance distributes Tom’s products across the country expanding their brand recognition.
Products
Tom's products include Potato Chips, Corn Chips, Fries, Tortilla Chips, and Pork Skins. They also manufacture Bugles under the Tom's name.