Campbell To Acquire Snyder's-Lance For $4.87 Billion

Posted On: 12/18/2017

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CAMDEN, NJ -- Campbell Soup Co. will acquire snack manufacturer Snyder's-Lance Inc. for $4.87 billion in cash. The deal is the largest in Campbell's 148-year history and a bold departure from its core focus on soup.

The deal, which unites Snyder's namesake pretzels, Cape Cod and Kettle brand potato chips and Lance crackers with Campbell's Goldfish and Pepperidge Farm crackers, will nearly double Campbell Soup's baked snacks revenue and significantly diversify its business.
With revenue of about $2.2 billion for the 12-month period ended Sept. 30, Snyder's-Lance adds to Camden, NJ-based Campbell's $2.5 billion in fiscal 2017 baked-snack product sales. Snacks will now represent 46% of Campbell's revenue, up from 31% before the deal.

Snyder's-Lance will become part of Campbell's Global Biscuits and Snacks division, which includes the company's Pepperidge Farm, Arnott's and Kelsen businesses, and the simple meals and shelf-stable beverages business in Australia, Asia Pacific and Latin America.

"Campbell's expertise in brand-building, R&D, and supply chain and operations, coupled with Snyder's-Lance's well-known portfolio, distribution system and history of strong sales growth, will allow us to create a differentiated, branded snacking business with greater scale," said Luca Mignini, president of Campbell's Global Biscuits and Snacks division. "The combined portfolio will be even more relevant to consumers who are increasingly seeking better-for-you snacks."

Headquartered in Charlotte, NC, Snyder's-Lance has approximately 6,000 employees and operates 13 manufacturing centers throughout the United States and United Kingdom.

Snyder's-Lance is Campbell's sixth acquisition in five years. Last week, Campbell acquired organic broth and soup maker Pacific Foods.