Snyder's-Lance Selling Diamond of California to Investment Firm

Nov. 30, 2016
Sale of tangential culinary nut business will help reduce debt from this year's acquisition of Diamond Foods.

Snyder's-Lance Inc., seeking to pay down some debt incurred in its acquisition of Diamond Foods, agreed to sell the Diamond of California culinary nut business to private equity firm Blue Road Capital. Price was not disclosed.

Diamond of California was acquired this past February as part of Snyder's $1.91 billion purchase of Diamond Foods. The other Diamond Foods brands -- Kettle Brand chips, Pop Secret popcorn and Emerald snack nuts -- more closely align with Snyder's-Lance's strategy on snack foods.

"This strategic transaction will allow us to concentrate on our core business of providing our consumers and retail partners with our premium portfolio of snack brands focused on better ingredients, quality and taste," said Carl Lee, Jr., Snyder's-Lance's president/CEO.

The Diamond of California nut business is operated out of Stockton, Calif., and had third quarter revenue of $42.9 million.

Sponsored Recommendations

Clabber Girl: Rising Success

Uncover how Clabber Girl Corporation achieved a remarkable 7% growth and improved manufacturing efficiency by seamlessly integrating Vicinity's batch manufacturing solution with...

Intelligent Blends: Taking Technology to the Next Level

Find out how our friends at Intelligent Blends use VicinityFood and Microsoft Dynamics GP to produce the best coffee around.

Key ingredient: Mother Murphy's Laboratories

Flavorings manufacturer Mother Murphy’s Laboratories integrates front office with production facility — improving operations from initial order to final invoice.

Maximizing Profitability and Efficiency: Why Food Manufacturing ERP is a Game-Changer

Check out this infographic detailing the 5 reasons why food manufacturers should invest in an ERP software for their food production.