Tom's Snacks Co.

Infobox Company
company_name = Tom's Snacks Co.
company_
company_type = Corporation
foundation = 1925
founder = Tom Huston
location_city = flagicon|USA Charlotte, North Carolina
location_country = USA
location =
key_people = David Singer CEO
industry = Snack food
homepage = [http://www.tomsfoods.com 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 Houston 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 4 million dollars in sales. However, due to unpaid notes Houston lost 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 16 million.

Changes in Ownership

In 1966, General Mills acquired Tom’s for 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 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 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 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 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 and Coconut Slices.

External Links

* [http://www.tomsfoods.com/ Tom’s Snacks website]
* [http://www.tomsfoods.com/history.asp History of Tom’s.]
* [http://www.taquitos.net/snacks.php?manuf_code=76 Review of Tom’s products.]