Snyder’s-Lance, Inc. has completed its purchase of California snack manufacturer Diamond Foods, Inc. Under the terms of the agreement, Diamond Foods stockholders receive 0.775 Snyder's-Lance shares and $12.50 in cash per share of Diamond Foods.
The agreement brings brands such as Kettle Brand potato chips, Pop Secret, Emerald snack nuts and Diamond of California nuts into the Snyder’s-Lance family, increasing the company’s annual net revenue by approximately $2.6 billion. The transaction also expands the company’s overall footprint in “better-for-you” snacking and increases its natural food channel presence.
Headquartered in Charlotte, NC, Snyder’s-Lance manufactures and markets snack foods throughout the United States and internationally. Snyder's-Lance’s products include pretzels, sandwich crackers, pretzel crackers, potato chips, popcorn, cookies, tortilla chips, restaurant style crackers, nuts and other snacks.