Snyder's-Lance, Inc. (LNCE) recently completed the acquisition of a food company, Baptista's Bakery, Inc. Baptista's Bakery is the maker of “better for you” snacks and other baked snacks. The acquisition was announced on May 7, 2014.
Baptista's Bakery has been the supplier of Snack Factory Pretzel Crisps brand for Snyder's-Lance. Pretzel Crisps crackers is one of Snyder's-Lance’s four core brands, which also include Snyder's of Hanover pretzels, Lance sandwich crackers, and Cape Cod.
Post acquisition, Snyder's-Lance will also own Baptista's Bakery’s manufacturing facility in Franklin, WI. Also, the acquisition will result in the integration of Baptista's Bakery team into Snyder's-Lance.
Innovation has always been one of the important strategies of consumer goods companies. Innovation helps these companies to cater to changing consumer preference and also strengthens their product portfolio. Thus, the acquisition is in line with Snyder's-Lance’s focus on branded product innovation and increasing manufacturing capabilities. This will combine the resources and expertise of Baptista's Bakery with the scale of Snyder's-Lance.
Snyder's-Lance is engaged in the manufacture, marketing and distribution of a variety of branded and private label snack foods and bakery products. Its products include sandwich crackers, pretzel crackers, potato chips, cookies, tortilla chips, restaurant style crackers, nuts and other snacks.
Snyder's-Lance carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the consumer goods sector include BRF S.A. (BRFS), Aramark (ARMK) and Inventure Foods, Inc. (SNAK). BRF S.A sports a Zacks Rank #1 (Strong Buy ) while Aramark and Inventure Foods carry a Zacks Rank #2 (Buy).
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