Tom's Snacks facts for kids
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Formerly
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| Private (1925–66) Subsidiary (1966–2005) |
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| Industry | Food |
| Fate | Acquired by General Mills in 1966, declared bankruptcy in 2005 |
| Founded | 1925 |
| Founder | Tom Huston |
| Defunct | 2005 |
| Headquarters | , |
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Key people
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David Singer CEO |
| Products | Snack food |
| Parent |
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Tom's Snacks Co. is a well-known American snack brand. It is currently owned by San Antonio Snacks. The company started way back in 1925 in Columbus, Georgia, by a man named Tom Huston. It was first called "Tom's Foods Company." The business made snacks for many years until 2005. At that time, it faced financial trouble. The brand was then bought by Snyder's-Lance, Inc..
Contents
The Story of Tom's Snacks
How It All Began
In 1925, Tom Huston started his company, "Tom's Roasted Peanuts." He began selling his roasted peanuts for just a nickel a bag. People loved them! Within two years, Tom's peanuts were sold all over the country. The company made a lot of money, reaching US$4 million in sales.
However, Tom Huston lost the company to the bank because of unpaid debts. In 1932, Walter Richards bought Tom's from the bank. He then made the company public, meaning people could buy shares in it. By the 1950s, sales grew even more, reaching $16 million.
Changes in Ownership Over Time
In 1966, a big company called General Mills bought Tom's for $75 million. They changed the name to "Tom's Foods." During the 1970s, General Mills tried to sell Tom's chips in major supermarkets across the nation. They also started a new service that delivered snacks to offices.
By 1983, Tom's changed owners again. Rowntree Mackintosh, a candy company, paid $215 million to buy Tom's. While they owned the company, they started a program for their distributors to become franchisees. This meant distributors could run their own Tom's snack businesses.
However, sales were not as good as hoped. So, the company was sold once more. In 1988, TF Acquisition Corporation took over Tom's. They paid $200 million in a deal where the company's managers bought it. Under this new ownership, they opened new chip factories. These were in Columbus, Georgia and Tennessee. This helped them grow their network of independent distributors.
Tom's had big plans to increase sales to over $400 million in the next five years. But they did not reach this goal. In 1993, Heico Acquisitions took over the company. Over the next few years, sales continued to drop, falling to $200 million. Because of these financial struggles, Tom's Foods had to declare bankruptcy.
Tom's Snacks Today
In 2005, Lance Inc. won the chance to buy Tom's Foods. They paid $37.9 million for the brand. They then renamed it Tom's Snacks Co. As of 2016, Tom's products were distributed across the country by Snyder's-Lance.
Tom's Snacks was the first major snack company to put pictures of wrestlers on their potato chip bags. Some of the wrestlers featured included Kurt Angle, Rob Van Dam, Mr. Anderson, Velvet Sky, "The Pope" D'angelo Dinero, and A.J. Styles.
Snack Products
Tom's offers a variety of snack products. These include different kinds of chips. You can find potato chips, corn chips, and tortilla chips. They also make fries and pork skins.
Additionally, the popular snack Bugles are also made under the Tom's brand name.
