Snyder's-Lance Inc., Charlotte, N.C., has entered into a definitive agreement to acquire Princeton, N.J.-based Snack Factory, LLC, maker of Pretzel Crisps pretzel-shaped crackers, and certain affiliates for $340 million in cash. This includes approximately $60 million of net present value of future tax benefits.
Snyder's-Lance expects to close the transaction early in the fourth quarter. The completion of the transaction is subject to customary conditions, including receipt of required regulatory approvals.