Snyder's-Lance Acquires Baptista's Bakery; Sells Private Brands to Shearer's Foods
May 9, 2014
The North Carolina-based snack food manufacturer announced the transactions as part of its strategic plan to focus entirely on its branded products.
Food Processing Top 100-ranked Snyder's-Lance announced its plans to sell its private brands along with two manufacturing facilities in the U.S. and Canada to Shearer's Foods. This comes on the heels of another announcement to acquire Baptista's Bakery.
The snack manufacturer signed a definitive agreement to sell its private brands, as well two manufacturing facilities in the U.S. and Canada to Massillon, Ohio-based Shearer's Foods. According to a release, the $430 million transaction will "allow Snyder's-Lance 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."
Meanwhile, the company also announced it will acquire Baptista's Bakery, the supplier of its Snack Factory Pretzel Crisp. As part of the acquisition, Snyder's-Lance will acquire 100% of Baptista's Bakery and its manufacturing facility.
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