Snyder's-Lance has agreed to buy US cracker firm Snack Factory for US$340m from private-equity firm VMG Partners.
The deal, announced yesterday (5 September), will see Snack Factor's Pretzel Crisp brand join Synder's-Lance products like Cape Cod and Archway.
"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," Snyder's-Lance CEO David Singer said.
Snack Factory was set up in 2004 and signed a deal with VMG five years later. VMG MD Kara Cissell-Roell said: "When founders Warren and Sara Wilson selected VMG as their strategic partner in 2009, we all recognized Pretzel Crisps as an innovative brand with enormous potential. The Snack Factory team accelerated consumer trial and awareness of the brand and won the hearts of a passionate consumer base."
Snack Factory CEO Tom O'Rourke said: "We couldn't be more excited for the future of Pretzel Crisps. Together with Snyder's-Lance, we can reach more consumers, continue to build exceptional brand equity, and bring more exciting innovation to the marketplace."
