San Francisco based Diamond Foods Inc has hit a deal with London-based private equity firm Lion Capital to buy potato-chip maker Kettle Foods for 402.3 million pounds. Kettle Foods was founded in 1978 and initiated UK production in 1989.

Lion Capital had acquired the business in 2006 in a deal worth 170 million pounds.

The snacks maker Diamond Foods has said that it has “agreed to buy the potato-chip maker Kettle Foods from Lion Capital for $615 million”, in a move to expand its presence in growing potato-chip market.

Looking forward to its expansion in the growing potato chip market, Diamond Foods Inc. has agreed to acquire Kettle Foods for $615 million.