Wed, Oct. 28, 7:01 AM
- Snyder's-Lance (NASDAQ:LNCE) announces it will acquires Diamond Foods (NASDAQ:DMND) in a deal valued at $1.9B.
- Diamond shareholders will receive $12.50 per share and 0.775 shares of Snyder's-Lance at closing.
- The deal has the backing of large Diamond shareholder Oaktree Capital
- The merger is expected to kick up synergy benefits as high as $75M in annual cost savings.
- Previously: Food sector M&A seen picking up (Oct. 23 2015)
- DMND +11.78% premarket to $39.00.
May 7, 2014, 3:56 PM
- Snyder's-Lance (LNCE +4.1%) agrees to sell its private label snack foods business to Shearer's Foods in a $430M deal that it says will enable it to focus on branded sales.
- BB&T analyst Brett Hundley thinks the sale, combined with an improved business mix, will help improve operating margins to above 10% while unlocking equity value.
Sep. 6, 2012, 3:58 PMSnyders-Lance (LNCE +11.7%) spiked higher after last night's announced acquisition of Snack Factory and certain affiliates for $340M in cash, adding the fast-expanding Pretzel Crisps brand to the snack company's portfolio. The deal is expected to close early in Q4 and will add ~$0.02 to adjusted EPS in 2012 and ~$0.10 in 2013. | Sep. 6, 2012, 3:58 PM | Comment!
Snyders-Lance Inc manufactures, markets, and distributes a variety of snack food products including pretzels, sandwich crackers, kettle chips, cookies, potato chips, tortilla chips, other salty snacks, sugar wafers, nuts, and crackers.
Other News & PR