Friday, 02 December 2016

New at INTERPOM PRIMEURS: Pre-Registration Is Required

New at INTERPOM PRIMEURS: Pre-Registration Is Requ...

 INTERPOM |PRIMEURS, the leading indoor trade fair for the entire potato, vegetable and fruit sect...

Gulfood Manufacturing Showcases Full F&B Tech Spectrum

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  Gulfood Manufacturing (November 7-9, 2016) aimed to serve the full F B processing value chain i...

PACK EXPO: 50,000 Processing and Packaging Professionals to Meet in Chicago

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AHDB Estimates Potato Production at 5.22Mt in Great Britain

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  AHDB Potatoes' first provisional estimate of total production in Great Britain for the 2016 crop yea...

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Asia-Pacific Is the Fastest-growing Region in the Indu...

  The industrial starch market in the Asia-Pacific region is driven by the increasing consumption of sta...

Bühler Aeroglide Appoints Director of Product Management

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    Bühler Aeroglide, a global leader in thermal process engineering and technology for food, feed, and...

Tong Engineering Showcases Latest Equipment Range at LAMMA 2017

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  Tong Engineering is set to showcase the latest model of its Caretaker mobile grader, featuring the n...

New “Humigator” Help Growers with Potato Control

New “Humigator” Help Growers with Potato Control

  An invention called a “humigator” is helping potato growers across the country have yearlong control...

Key Technology Opens New Innovation Center in Hasselt, Belgium

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  Key Technology opens the Innovation and Solutions Center – in Hasselt, Belgium, a facility which ena...

Farm Frites Launches Its Ultimate Chip

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Schmieding Produce Launches Skinny Potato

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 Good Health Launches Eat Your Vegetables Chip Lineup

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Savoursmiths Luxury Chips Brand Launches in the UK

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Swedish Brewery Creates the Most Expensive Potato Chip in the World

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  Potandon Produce LLC, the industry leader in fresh pota...

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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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