Lance has entered into an agreement to buy Stella D’oro Biscuit Co.
Lance has entered into an agreement to buy Stella D’oro Biscuit Co., including its brand as well as certain equipment and inventory. The Charlotte, N.C.-based company will move production of Stella D’oro brand products to its Ashland, Ohio, bakery, which it acquired when it purchased the assets of Archway last December.
Terms of the agreement were not disclosed.
Stella D’Oro produces shelf-stable cookies, biscotti, breakfast treats and bread sticks that are sold nationally in grocery stories and mass merchants but with a high concentration along the East Coast.
Stella D’Oro is owned by Brynwood Partners, a Greenwich, Conn.-based private equity firm. According to a New York Post report in July, Brynwood Partners indicated that it may shut down the Bronx, N.Y., operation after workers on strike took the upper hand in a prolonged labor dispute.
Lance To Acquire Stella D'oro Business
September 9, 2009