In order to strengthen its distribution network,
) recently acquired substantially all assets of Mass.-based snack
food distributor, Stateline Service Corporation, for an
undisclosed amount. Terms of the transaction were not
Stateline distributes Snyder's-Lance's branded products as
well as several additional partner-brand product lines. Both the
distribution networks will be merged, thus expanding
Snyder's-Lance's direct store delivery distribution network and
allowing it to better serve its key retailers.
Snyder's-Lance manufactures markets and distributes a variety
of branded and private-label snack foods and bakery products
including sandwich crackers, pretzel crackers, potato chips,
cookies, tortilla chips, restaurant-style crackers, nuts and
The company currently owns four core brands namely, Snyder's
of Hanover pretzels, Lance sandwich crackers, Cape Cod potato
chips and Pretzel Crisps cracker. Pretzel Crisps was acquired in
October last year as part of Snyder's-Lance's acquisition of the
Princeton, N.J.-based company, Snack Factory, from VMG Partners
for $340 million. Pretzel Crisps is the world's first
pretzel-shaped low-calorie cracker.
Earlier this month, Snyder's-Lance reported dismal
second-quarter 2013 results missing the Zacks Consensus Estimate
for both revenues and earnings. However, both earnings and
revenues grew 9.1% and 9.9%, respectively.
Snyder's-Lance carries a Zacks Rank #4 (Sell). Other food
companies which are currently doing well include
Pinnacle Foods Inc.
Kraft Foods Group, Inc.
Dole Food Company Inc.
). All the three companies carry a Zacks Rank #2 (Buy).
DOLE FOOD CO (DOLE): Free Stock Analysis
KRAFT FOODS GRP (KRFT): Free Stock Analysis
SNYDERS-LANCE (LNCE): Free Stock Analysis
PINNACLE FOODS (PF): Free Stock Analysis
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