Snyder’s-Lance to acquire Baptista’s Bakery

US-based snack food producer Snyder’s-Lance has signed a definitive agreement to acquire Baptista’s Bakery, which produces baked snack foods and ‘better for you’ snacks.

As part of the deal, Snyder’s-Lance will acquire a 100% stake in Baptista’s Bakery, along with its manufacturing facility in Franklin, Wisconsin.

Baptista’s Bakery is a developer and manufacturer of baked snacks for snack companies and retailers across the US.

It is also supplies Snack Factory Pretzel Crisps to Snyder’s-Lance.

This deal is part of Snyder’s-Lance’s plan to sharpen its focus on its branded products in growth categories such as ‘better for you’ and other emerging products which are driven by consumer preferences and insights.

Snyder’s-Lance president and CEO Carl Lee Jr said that the Baptista’s team is strong and dedicated, with many new product ideas which will be an excellent pairing for the company’s brands.

"We are committed to retaining and growing the Franklin, Wisconsin facility, which is strategically well positioned within our network.

"By combining the resources and expertise of Baptista’s with the scale of Snyder’s-Lance, we will accelerate our ability to deliver exciting, on-trend snacks and product innovation while expanding our ‘better for you’ products and gaining needed capacity for our growing Snyder’s of Hanover pretzels," Lee added.

Baptista’s Bakery CEO and founder Nan Gardetto said, "The combination of Baptista’s quality and product innovation teamed with the marketing, sales and distribution capabilities of Snyder’s-Lance means our best accomplishments are yet to come."

The transaction, which is expected to be completed in the second quarter of 2014, is subject to regulatory approvals and customary closing conditions.

The financial details of the deal were not disclosed.

Baptista’s Bakery was established after Gardetto’s Bakery was divested to General Mills in 1999.

While Gardetto’s operated two facilities at the time of the sale, one in Milwaukee and the other in Franklin, the Gardetto family retained the Franklin facility, which it built in 1997, and utilised it to establish Baptista’s Bakery.

Headquartered in Charlotte, North Carolina, Snyder’s-Lance manufactures and markets snack foods such as pretzels, sandwich crackers, pretzel crackers, potato chips and cookies in the US and internationally.