Campbell Soup Co.’s December acquisition of diversified snack maker Snyder’s-Lance offers the Camden, N.J.-based food giant a chance to accelerate a strategy to develop “real food that matters for life’s moments,” according to Denise Morrison, president and CEO of Campbell Soup.
Snyder’s-Lance has leading market positions in its core categories, including pretzels, sandwich crackers, kettle chips, deli snacks, and organic and natural tortilla chips. The combination of Charlotte, N.C.-based Snyder’s-Lance brands with Campbell brands such as Pepperidge Farm, Arnott’s and Goldfish will drive sales growth and create value for shareholders.
Approved by the boards of directors of both companies, the acquisition “dramatically transforms Campbell, shifting our center of gravity and further diversifying our portfolio into the faster-growing snacking category,” Morrison said. The $4.87 billion acquisition marks the 21st buying claim of a snack company in 2017, a record high, according to a report in NJBiz.
Click through for nine recent rollouts from the two combined companies and how they might be poised to leverage them across retail channels.