Snyder’s-Lance to acquire Baptista's Bakery, sell Private Brands
Snyder's-Lance Inc., Charlotte, N.C., has signed definitive agreement to acquire Baptista's Bakery Inc., a Franklin, Wis.-based producer of baked snack foods and better-for-you snacks, including the Snack Factory Pretzel Crisps brand. Under the transaction terms, Snyder's-Lance will acquire 100% of Baptista's Bakery and its manufacturing facility. The transaction is expected to close in the second quarter of this year.
“Baptista's is a leader in highly differentiated snacks, and we're excited to be working with their talented, creative team” says Carl E. Lee Jr., president and CEO of Snyder's-Lance. “Baptista's is a company that has excelled in providing exceptional product quality and innovation, while commercializing production in ways that are effective and unique. The team at Baptista's is strong and dedicated, with many new product ideas, which will be an excellent pairing for our brands. Our culture and values fit well with those of Baptista's, which are focused on a dedication to employees and to the community.