Thursday, 03 September 2015

Multiple honors for Dr Neil Gudmestad at World Potato Congress in Beijing

Multiple honors for Dr Neil Gudmestad at World Pot...

  North Dakota State Plant Pathologist Dr. Neil Gudmestad was honored at the World Potato Congres...

China makes global commitment to the potato

China makes global commitment to the potato

China's commitment to the potato was very publicly and internationally demonstrated when it hosted t...

The PAA held their annual meeting in Portland, USA

The PAA held their annual meeting in Portland, USA

The Potato Association of America held their 99th Annual Meeting during July 19-23, 2015 in the east...

TOMRA wins design award for its common user interface

TOMRA wins design award for its common user interface

  TOMRA’s Common User Interface (CUI), designed by TOMRA Sorting Solutions (TOMRA) and Design Partners...

TOMRA Sorting Food signs new contracts at World Potato Congress

TOMRA Sorting Food signs new contracts at World Potato ...

  TOMRA Sorting Food has welcomed two new Chinese customers into the fold during a signing ceremony at...

The constant changes in Asian potato chips

The constant changes in Asian potato chips

  Over the last four centuries, the potato has come a long way from the American Andes. Since its cult...

Alternative processing technologies on program at PROCESS EXPO

Alternative processing technologies on program at PROCE...

  The Food Processing Suppliers Association has released the details of four sessions of the education...

The sharp edge of the job

The sharp edge of the job

  Product perfection starts before the processing. It is maintained in the processing plant but only e...

Efficient drying pays off

Efficient drying pays off

  When it comes to drying potatoes, regardless of the type of end product one may have in mind, there ...

McCain Australia has new range of frozen potato wedges

McCain Australia has...

  McCain Australia has recently launched the new wedges ‘...

Tolsma-Grisnich and Kiremko, partnership for a new plant in China

Tolsma-Grisnich and ...

  Strategic partners Tolsma-Grisnich and Kiremko recently...

Utz Quality Foods launches Specialty Division

Utz Quality Foods la...

Utz Quality Foods, Inc. has recently announced the culmina...

Potatoes are back on WIC, a nutritional program for women, infants and children in USA

Potatoes are back on...

The National Potato Council (NPC) from USA succeeded to put ...

Exclusive interview with the director of Urschel Laboratories, Inc: The Urschel team is a very strong one

Exclusive interview ...

What began with one man's invention more than 100 years ago ...

4th Symposium of Potato Cyst Nematode Management

4th Symposium of Pot...

  The 4th Symposium of Potato Cyst Nematode Management wi...

UK Potato Council says it is a record year for seed potato exports

UK Potato Council sa...

  Seed potato exports are booming, with the latest figure...

Indian Government will procure 6,600 tones of potato from farmers

Indian Government wi...

The State Government announced its decision to procure 6,6...

Company launches a new solution for potato sprouting

Company launches a n...

  BioSafe Systems announces the introduction of ARRET Spr...

Seed Industry Event conference tackles key industry concerns

Seed Industry Event ...

The recent Seed Industry Event, organized by British Potato ...

Lance Inc and Snyder's of Hanover have announced they have signed a definitive agreement to combine in a stock-for-stock merger of equals that will create a combined company to be called Snyder's-Lance Inc.

The combined company will have the operating scale and balance sheet strength to provide even more value to consumers, customers and shareholders. In addition to leading iconic brands including Lance®, Snyder's of Hanover, Cape Cod and Grande, Snyder's-Lance will have a national distribution footprint including one of the largest Direct Store Delivery ("DSD") networks in the United States.
Snyder's-Lance will have pro forma combined net sales of approximately $1.6 billion, adjusted EBITDA of approximately $170 million, pre-synergies, and strong free cash flow for the twelve month period ended June 26, 2010.
The combination is expected to generate more than $30 million in annualised synergies. The transaction is not expected to materially impact stand-alone Lance earnings in 2010, excluding special items, but will add incremental earnings per share of more than 10 per cent, on a fully synergized basis.
The transaction brings together Snyder's, a global leader in pretzels and a US leader in specialty snacks that traces its roots to 1909, with Lance, a US snack food leader in sandwich crackers, potato chips, and cookies founded in 1913.
"This transaction allows us to create a stronger company in a highly competitive industry and simultaneously create value for our shareholders. Snyder's-Lance will have a broad array of leading snack food products supported by a strong national DSD system," said David V Singer, President and Chief Executive Officer of Lance. "We are extremely pleased with the opportunity to combine two leading snack food companies in such a strategically compelling merger. Combining our strengths in salty, cracker and cookie snacks creates the opportunity to be a focused specialty company with the scale to compete in high volume categories," said Carl E Lee, Jr, President and Chief Executive Officer of Snyder's.

 

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