Campbell Snacks born in the USA
Campbell Soup Company, the Wall Street quoted food giant with operations in St Albans, has completed the acquisition of Snyder’s-Lance, Inc. for $50 per share in an all-cash transaction, which represents an enterprise value of approximately $6.1 billion.
Campbell’s president and CEO, Denise Morrison, said: “Snyder’s-Lance represents a strategic and transformative acquisition for Campbell, creating a $10-billion company with nearly half of our annual net sales in the faster-growing snacks category.
“The combination of Campbell and Snyder’s-Lance creates a unique, diversified snacking portfolio of differentiated brands and a large variety of better-for-you snacks for consumers. I am confident the combination will create significant shareholder value through both revenue growth and cost synergies.”
To unlock the power of the combined brand portfolio, and achieve both cost and potential revenue opportunities, Campbell says it is integrating the Pepperidge Farm and Snyder’s-Lance portfolios to create a unified snacking organisation in the US called Campbell Snacks.
• Image courtesy – Campbells Soup Company