Snyder’s-Lance Inc. has announced the company will acquire Snack Factory, LLC and select affiliates for $340 million by the fourth quarter. The transaction will give Snyder’s-Lance entry into the deli-bakery section of grocery stores.
The acquisition is expected to add about $160 million to estimated 2013 net revenues, according to a press release, and will bring Snyder’s-Lance an enhanced management team and sales force. The Snack Factory brand has become one of the fastest-growing brands in premium snacking and has developed strong relationships with retail partners with its market-leading Pretzel Crisps®. The line features flavors including Original, Garlic and Parmesan, Everything, and Sesame.
“We are excited about the opportunity to add the Snack Factory family of products to our growing portfolio of outstanding snack foods brands,” states David V. Singer, CEO of Snyder’s-Lance. “…The team at Snack Factory has done an amazing job of developing such a successful brand with a loyal following. We look forward to bringing together our collective strengths as Snyder’s-Lance continues to build an even stronger snack foods company.” Tom O’Rourke, CEO of Snack Factory, states, "We couldn't be more excited for the future of Pretzel Crisps®," said Tom O'Rourke, Chief Executive Officer of Snack Factory LLC. "Together with Snyder's-Lance, we can reach more consumers, continue to build exceptional brand equity, and bring more exciting innovation to the marketplace."