Tom's Snacks (Paperback)

High Quality Content by WIKIPEDIA articles Tom's Snacks Co. is an American snack food company founded in Columbus, Georgia. It is a subsidiary of Lance Inc..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.In 1966, General Mills acquired Tom's for US$75 million, and changed the name to "Tom's Foods." In the 1970s, General Mills attempted to launch Tom's chips into national supermarkets. However, the campaign failed due to 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.