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Pretzel Crisps maker Snack Factory to be acquired by Snyders-Lance |
09.06.2012
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Snack giant Snyder's-Lance, Inc. has announced that it will acquire Snack Factory, LLC, makers of popular snack cracker Pretzel Crisps, for about $340 million in cash (including about $60 million of net present value of future tax benefits). The transaction is set to close early in the fourth quarter, subject to required regulatory approvals.
"We are excited about the opportunity to add the Snack Factory family of products to our growing portfolio of outstanding snack food brands," said David V. Singer, Snyder's-Lance CEO. "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. Snack Factory is truly a welcome addition, and we are certain that customers and consumers alike will be excited at the possibilities for this premium, unique line of great tasting products."
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