Snyder's-Lance completes purchase of Snack Factory
by Eric Schroeder
CHARLOTTE, N.C. — Snyder’s-Lance, Inc. on Oct. 11 completed its acquisition of Snack Factory, L.L.C. from VMG Partners for $340 million in cash. The transaction, which was first announced on Sept. 5, includes the Pretzel Crisps brand, and it provides entry into the deli-bakery section of grocery stores. Snack Factory is projected to add approximately 2c to Snyder’s-Lance earnings per share, excluding transaction related costs, in 2012 and approximately 10c to earnings in 2013. It also is expected to add approximately $160 million to estimated 2013 net revenues.