STRATEGIC PARTNERS
CAMDEN, NJ -- Campbell Soup Co. announced today the completion of its acquisition of Charlotte, NC-based snack giant Snyder's-Lance Inc. for $50 per share in an all-cash transaction valued at $6.1 billion. Campbell is integrating the Pepperidge Farm and Snyder's-Lance portfolios to create a unified snack organization in the U.S. called Campbell Snacks, which will feature Pepperidge Farm's iconic Goldfish and Milano brands, along with Snyder's-Lance's Snyder's of Hanover, Lance, Kettle, Cape ...
March 25, 2018
CAMDEN, NJ -- Campbell Soup Co. announced today the completion of its acquisition of Charlotte, NC-based snack giant Snyder's-Lance Inc. for $50 per share in an all-cash transaction valued at $6.1 billion.
Campbell is integrating the Pepperidge Farm and Snyder's-Lance portfolios to create a unified snack organization in the U.S. called Campbell Snacks, which will feature Pepperidge Farm's iconic Goldfish and Milano brands, along with Snyder's-Lance's Snyder's of Hanover, Lance, Kettle, Cape Cod, Snack Factory Pretzel Crisps, Emerald and Late July brands.
Campbell's global baked snacks product portfolio, including its Pepperidge Farm, Arnott's and Kelsen businesses, generated approximately $2.5 billion in net sales in fiscal 2017. With the addition of Snyder's-Lance, snacking will now represent approximately 47% of Campbell's annual net sales (previously 32%). Campbell's soup portfolio will represent approximately 26% of the company's annual net sales.
Snyder's-Lance reported $2.2 billion in net sales for the year ended Dec. 30, 2017.
The new Campbell Snacks unit will be led by Carlos Abrams-Rivera, Campbell's former president of U.S. biscuits and snacks. Campbell Snacks senior vice-president and chief marketing officer Chris Foley will lead efforts to drive innovation and brand building across the expanded snacks portfolio.
Snyder's-Lance supply chain vice-president Bill Livingstone and Pepperidge Farm supply chain vice-president Paul Serra will oversee supply chain operations of their respective divisions. Livingstone previously was responsible for overall supply chain for U.S. Biscuits and Bakery for the past eight years. Serra served as general manager for Arnott's Malaysia and Singapore business.
Cory Onell, has been appointed vice-president of sales, customer development and DSD operations for Campbell Snacks. He joined Pepperidge Farm in 2017 as vice-president of U.S. Sales and DSD operations.
George Vindiola, vice-president of research and development for Campbell Snacks, will oversee product development and innovation for the combined portfolio. He joined Pepperidge Farm in 2016, bringing more than 20 years of research and leadership experience from PepsiCo/Frito-Lay.
Matt Wilken, who has led business strategy for Snyder's-Lance for the past seven years, has been appointed vice-president of strategy for Campbell Snacks.
Campbell has named additional leaders to oversee finance, legal, information technology, human resources and communications.
"Snyder's-Lance represents a strategic and transformative acquisition for Campbell, creating a $10-billion company with nearly half of our annual net sales in the faster-growing snacks category," said Campbell's president and chief executive Denise Morrison. "The combination of Campbell and Snyder's-Lance creates a unique, diversified snacking portfolio of differentiated brands and a large variety of better-for-you snacks for consumers."
