- In 1978 Golden Valley Microwave Foods started with a bold idea - to make products exclusively for use in microwave ovens. At the time, however, very few households had microwaves.
- By 1980, with only single serve frozen entrees sold in vending machines, sales had grown to $1,000,000.
- ACT I Microwave Popcorn was introduced in 1981. A frozen product sold by vending machine operators in refrigerated vending machines, ACT I became a big hit on college campuses and beyond.
- By mid-1981, ACT I commanded a 70% share of the vending popcorn market.
- In 1984, Golden Valley developed a revolutionary new microwave popcorn bag, which allowed virtually all kernels in the bag to pop in all microwave ovens. The new bag, combined with hydrogenated soybean oil, created a shelf-stable, non-refrigerated product dubbed ACT II.
- ACT II was introduced to an accepting public in October 1984, and the market for microwave popcorn increased dramatically.
- The good news spread quickly and ACT II annual sales grew exponentially, from $10 million in 1984 to $23 million in 1985 and $48 million by 1986.
- Expansion of plants, employees and equipment required increasing amounts of capital; in 1986 the company went public.
- In one year, the stock price quadrupled. By 1990, sales exceeded $170 million.
- In 1991, Golden Valley was acquired by ConAgra Foods, Inc., one of the largest and most successful food companies in the world.
- By 1999, ConAgra Foods, Inc., had produced over 1 billion bags of popcorn annually, making Golden Valley the largest manufacturer of microwave popcorn in the world.
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