Campbell Soup Will Be The New Owner Of Cape Cod Potato Chips

Campbell's is buying snack maker Snyder's-Lance. Image courtesy of Flickr user ezraw

"A lot of those companies don't have, or haven't taken advantage of, all of the nooks and crannies of the tax code", said Jason Pride, director of investment strategy at Glenmede.

The deal will give Campbell a group of brands including Snyder's of Hanover, Kettle Brand and Pop Secret.

Campbell Soup says the acquisition of Snyder's-Lance will accelerate its access to quickly growing avenues for distributing its goods, including convenience stores. The deal is expected to be completed in the first quarter of 2018.

"We think the Snyder's-Lance deal represents crystalline logic", ConsumerEdge Research analyst Jonathan Feeney said in a note. Goldman Sachs and Deutsche Bank worked with Snyder's-Lance.

Snyder's stock increased by 6.7 percent at Monday's premarket to $49.95 per share.

"Following a thorough review process of strategic options, we believe this transaction maximizes value for our shareholders through an immediate and certain cash premium".

"We know how to do this", she said of cost-cutting.

Keaton Jones mom slammed after anti-bullying video goes viral
Captain America Chris Evans tweeted, "Stay strong Keaton" and invited his family to attend the Avengers premiere next year. Kimberly Jones , someone who publicly ranted against Black Lives Matter, doesn't seem to understand what irony is.

Snyder's-Lance, based in Charlotte, North Carolina, makes pretzels and chips.

In 2012, Campbell acquired Bolthouse Farms for $1.55 billion.

In addition to snacks, Campbell's also wants to expand fresh foods unit, which accounts for 12% of sales.

Campbell Soup, based in New Jersey, already makes a number of well-known snacks, including Goldfish crackers and Milano cookies.

Campbell Soup has said it will finance the deal with $6.2 billion of debt.

The deal with the Pretzel owner is the soup company's biggest deal in its 148-year history.

Melding Campbell and Snyder's-Lance's roughly $2 billion USA snack portfolios will radically cut costs and add complementary salty snacks to round out Campbell's successful Pepperidge brand and Lance's position as a big national distributor of salty snacks, Feeney said. Driscoll, the former CEO of Diamond Foods and a member of Snyder's-Lance's board, was named his successor in June. But he cautions that the deal sets Hershey up for competition with PepsiCo Inc's Frito-Lay and Campbell's Pepperidge.

Related News:



Most liked

WWE announce details regarding first ever Women's Royal Rumble match
Women already on the main roster were forced to step up their game to keep up with these young stars and absolutely delivered. No more details were announced about the match so stay tuned because we'll be posting more information when we know more.

So Stephen Thompson's Also Calling For a Bout With Rafael dos Anjos…
Dos Anjos (28-9), mentioned before the bout that he believed this fight should have been for the interim welterweight title. Ultimately, it was Dos Anjos who got the job done, but only 25 percent of players actually picked him going into the card.

WWE Clash of Champions Preview & Predictions
The Usos just play hot potato with the titles for months, so there is no reason for that to continue here. I hear they both know that El Generico guy and could get some tips from him about working under a hood.

Jurgen Klopp takes aim at Fab Four nickname
It goes without saying that Liverpool fans - and fans generally - are quite happy with the former Arsenal man's interjection. Roberto Firmino sealed the win in the 66th minute. "But that's still a few weeks and months away".

Alex Collins totals 52 yards as Ravens take down the Browns
However, all five misses came at M&T Bank Stadium . 120: Rushing yards by Alex Collins last week at Pittsburgh, a career-high. The Baltimore Ravens and Cleveland Browns have a ton in common as they head into their Week 15 matchup in Cleveland.

Celtic's Unbeaten Run Brought To Shuddering Halt By Humiliating Defeat
The 31-year-old right-back - who had a torrid afternoon like every other off-form Celt - said: "I don't know what went wrong - EVERYTHING".

More winter weather on the way
No winter weather advisory has been issued for the county at this time, but it has been in Ocean County and to the southwest. Area meteorologists say rain boots, instead of the snow variety, may be more appropriate holiday attire this year.

Cardinals place Adrian Peterson on IR, claim CJ Goodwin off waivers
During a press conference earlier in the week, Arizona head coach Bruce Arians reported no improvement in Peterson's condition. Before the Titans game, Peterson shared a video on Instagram that showed the exact play where he suffered his injury.

Thunder's Russell Westbrook to Joel Embiid: 'Go home'
They were able to get a big-time win in Philadelphia on Friday night after they beat the Sixers in a triple-overtime thriller. The Thunder had jumped out to a 17-point lead with 5:45 remaining in the first half, but the Sixers fought their way back.

Nanaimo Salvation Army says man trying to dupe people in door-to-door scam
That is a daunting number, but it will allow us to provide far more than food and shelter to those in need in our community. Wicke attributed the losses this year to increases in online shopping and not enough bell ringers, both paid and volunteer.

Wenger Responds To Ozil's Links With Mourinho's Man Utd
We have never been approached by Man United in any way, so I don't see why that came up or who found it. I can not tell you much more ", said the Arsenal boss. "My wish and my desire is that everybody stays.

Jets holding DE Wilkerson out for Saints sport
Bowles is tight-lipped to a fault at times, and Friday was no different. "One team, one goal, '" said linebacker Demario Davis. Bowles wasn't looking past this Sunday, however - nor was he going to elaborate on the troublesome Wilkerson.

Deputy Attorney General Defends Robert Mueller To Congress
Kenneth Starr, who tirelessly investigated the contents and activities of what was in Bill Clinton's trousers , was a Republican. Reports this past summer found that several of the lawyers on Mueller's team donated to Democrats.

Gold coins found in Salvation Army holiday kettle in Florida
Tava Douglas, 51, of Marietta, a bell ringer for 20 years, said she has noticed a slowdown this season. They stood outside the store and asked shoppers to contribute money to the kettle.

Watering your Christmas tree can prevent a destructive home fire
Agriculture commissioner Adam Putnam says, all families should support local tree growers at Christmas time. Then you need petrol to harvest and transport them, as well as the human labour to do all of that.