Snyder’s-Lance is acquiring Baptista’s Bakery, a baked snack foods supplier that manufacturers Snack Factory® Pretzel Crisps®, for an undisclosed price. In addition, Snyder’s-Lance is selling its private brands and two manufacturing facilities in the U.S. and Canada to Shearer’s Foods in Massillon, Ohio for $430 million.
Both transactions are intended to allow the company to focus entirely on its branded products by placing more resources to work on growth categories such as “better for you,” nutritional and premium snacks, according to a press release.
“By combining the resources and expertise of Baptista’s with the scale of Snyder’s-Lance, we will accelerate our ability to deliver exciting, on-trend snacks and product innovation while expanding our ‘better for you’ products and gaining needed capacity for our growing Snyder’s of Hanover pretzels,” said Carl E. Lee, Jr., President and CEO of Snyder’s-Lance. “We welcome the Baptista’s team to the Snyder’s-Lance family and look forward to winning together!”
Nan Gardetto, CEO and Founder of Baptista’s, commented, “The combination of Baptista’s quality and product innovation teamed with the marketing, sales, and distribution capabilities of Snyder’s-Lance means our best accomplishments are yet to come. I am personally excited for our company’s future and the success that lies ahead.”
On selling its private brands, Lee said that he believes that focusing more completely on its branded products will create better long term shareholder value as the company grows organically through product innovation and the acquisition of additional core brands.