Snyder's-Lance to buy Pretzel Crisps maker Snack Factory for $340 million
10 Sep 2012
Snack foods company Snyder's-Lance Inc yesterday agreed to buy Pretzel Crisps maker Snack Factory for $340 million in cash, in order to enter the fast growing deli-bakery retail area for snacks.
Princeton, New Jersey-based Snack Factory was founded by snack food pioneers Sara and Warren Wilson in 2004. The Wilsons pioneered the first flat pretzel-shaped cracker under the Pretzel Crisps brand and rapidly gained distribution in the deli-bakery section of grocery stores.
The natural, baked product soon became one of the most dynamic snack brands and is one of the fastest-growing brand in premium snacking segment in the US.
As the world's ?rst pretzel-shaped cracker, Snack Factory's Pretzel Crisps are thin, ?at crackers and have multiple uses in snacking. The Pretzel Crisps brand is is the fastest-growing brand in the category and has ?avours such as Original, Garlic and Parmesan, Everything and Sesame.
Snack Factory products are distributed throughout the US in grocery, mass merchandisers, club stores, and other channels.
Charlotte, North Carolina-based Snyder's-Lance said that the acquisition will give it an entry into the deli-bakery section of grocery stores, an attractive and growing retail area for snacks, and add approximately $160 million to estimated 2013 revenues.