Campbell Soup Buys Snyder's-Lance For $4.87 Billion

Campbell Soup has announced its decision to acquire Snyder's-Lance for $50 a share in an all-cash deal worth $4.87 billion. The move will expand Campbell's snack-food portfolio with popular brands including Snyder's of Hanover, Lance, Kettle Chips, Cape Cod, Snack Factory Pretzel Crisps, Pop Secret, Emerald, and Late July.

"The acquisition of Snyder's-Lance will accelerate Campbell's strategy and is in line with our Purpose, 'real food that matters for life's moments,'" Campbell's president and chief executive officer Denise Morrison said in a release. "It will provide our consumers with an even greater variety of better-for-you snacks."

Snyder's-Lance will become a part of Campbell's global biscuits and snacks division, which includes Pepperidge Farm, Arnott's, and Kelsen brands. This marks Campbell's sixth acquisition in five years. They purchased Bolthouse Farms in 2012, organic baby food company Plum and biscuit company Kelsen in 2013, fresh salsa and hummus maker Garden Fresh Gourmet in 2015, and organic soup and broth producer Pacific Foods earlier in 2017.

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