CHARLOTTE, NC -- Lance Inc. and Snyder's of Hanover Inc. announced the completion of their merger, first announced in July. [see story]
The new company, named Snyder's-Lance Inc., will maintain the stock ticker symbol "LNCE" with shares traded on the Nasdaq exchange.
The combined company's well-established portfolio of snack food brands will consist of pretzels, sandwich crackers, potato chips, cookies, tortilla chips and nuts under brands including Snyder's of Hanover, Lance, Cape Cod, Tom's, Jays, O-Ke-Doke, Stella D'oro, Krunchers! and Archway.
Officials said the merger gives Snyder's-Lance a national distribution footprint, including one of the largest direct store delivery networks in the U.S. The new company will compete against PepsiCo Inc.'s Frito-Lay in the salty snacks business.
"We expect to drive our business through the strength of nationwide distribution, national advertising, and an excellent portfolio of products and capabilities that consumers prefer," said Carl E. Lee Jr., president and chief operating officer of the combined company.
