Snack World - February 2011 - (Page 14)

Industry News Snyder’s-Lance becomes powerhouse snack company L BY ERIC SCHROEDER ance, Inc. and Snyder’s of Hanover, Inc. completed their merger in December, less than six months after first announcing the transaction in July of last year. The deal brings together Snyder’s, a manufacturer of pretzels and specialty snacks that traces its roots to 1909, with Lance, a US snack food maker of sandwich crackers, potato chips and cookies that was founded in 1913. The combined company now has a portfolio of snack food brands that includes Snyder’s of Hanover, Lance, Cape Cod, Grande, Tom’s, Jays, O-Ke-Doke, Stella D’oro, Krunchers!, Archway and Naturals as well as Lance private brands. Products include pretzels, sandwich crackers, kettle chips, potato chips, cookies, tortilla chips and nuts. The new company, named Snyder’s-Lance, Inc., maintains the stock ticker symbol “LNCE” with shares traded on the NASDAQ exchange. “We are extremely pleased with the opportunity to combine two leading snack food companies in such a strategically compelling merger,” said David V. Singer, CEO of the combined company, www.sfa.org www.sfa.org exciting times that are to come.” The management structure and board composition of the combined company includes Michael A. Warehime, previous chairman of Snyder’s, who serves as chairman of the board of the combined company, and W.J. Prezzano, the previous chairman of Lance, who serves as lead independent director. Rick D. Puckett, who had been executive vicepresident and CFO of Lance, became executive vicepresident and CFO of the combined company. Snyder’s-Lance Lee Singer Warehime now has a 14-member board Carl E. Lee Jr., president and drawn from the boards of both COO of the combined company, companies. It is composed of commented, “This historic seven directors of the Lance transaction brings together board and seven directors many years of excellence in of the Snyder’s board. The salty snacks and baking that company now has its corporate will create a dynamic and headquarters in Charlotte, NC, competitive organization able and additional headquarters in to deliver superior customer Hanover, PA, where certain key service while continuing to leaders continue to be located. be an important part of the The merger was approved by communities in which we Snyder’s shareholders on Dec. 3 operate. We expect to drive our and the Lance shareholders on business through the strength Dec. 2. sw of nationwide distribution, national advertising and an excellent portfolio of products and capabilities that consumers prefer. We look forward to our collective success and the shortly after the merger. “Combining our strengths in salty, cracker and cookie snacks creates the opportunity for scale in a number of competitive high-volume categories. We will immediately begin the work of bringing our two organizations together in ways that maximize our potential growth and drive lasting value for stockholders, customers, business partners and our employees.” 14 Snack World February 2011 http://www.sfa.org

Table of Contents for the Digital Edition of Snack World - February 2011

Snack World - February 2011
Letter from SFA - See You at SNAXPO
Rudolph Foods receives level 2 SQF certifi cation
Popcorn, Indiana launches chip’ins to commemorate National Popcorn Day
Better Made Snack Foods makes key promotions
Dawn of a New Era
In a Nutshell
Snyder’s-Lance becomes powerhouse snack company
Snack Sessions
Focus on the Future
Capital Spending Rebounds
New Snacks
Products & Services
Ad Index

Snack World - February 2011