In a combination of two snack companies with major brands, Snyder's-Lance has signed a definitive agreement to acquire Diamond Foods.
The transaction, expected to close in early 2016, has been approved by both boards of directors. The cash and stock merger transaction will amount to roughly $1.91 billion with estimated annual synergies of $75 million. Diamond Foods stockholders will own approximately 26 percent of the combined company based on outstanding share counts.