Campbell Soup snaps up snacks group Snyder's-Lance for $4.87bn

By Laura Mullan
Campbell Soup is acquiring snacks company Snyder's-Lance for US$4.87bn in cash, in what will be the largest ever deal in the soup company’s 148-year h...

Campbell Soup is acquiring snacks company Snyder's-Lance for US$4.87bn in cash, in what will be the largest ever deal in the soup company’s 148-year history. 

Valued at US$50 a share, the deal would fold Snyder’s pretzels and other snacks into Campbell’s biscuits and snacks division which includes brands such as Goldfish crackers and Milano cookies. 

SEE ALSO:

The deal marks Campbell Soup’s push towards other markets amid declining soup sales.

The acquisition is the company’s sixth in five years.

By adding Snyder's snack brands like Kettle Chips and Pop Secret popcorn, the company hopes to broaden its snack business and create a stronger foothold in convenience stores. 

Campbell Soup CEO Denise Morrison said: "This acquisition will dramatically transform Campbell, shifting our centre of gravity and further diversifying our portfolio into the faster-growing snacking category."

The deal adds to a wave of consolidation in the food and beverage industry as traditional companies have increasingly seen a slump in sales.

This week, Hershey also snapped up its snack food rival Amplify Snack Brands for US$1.6bbn and last month chocolate giant Mars bought a minority stake in Kind, the fruit and nut bar maker. 

This series of acquisitions points to the opportunity that many industry leaders see in the snack market segment, appealing to the growing number of people who eat and shop on the go. 

Share

Featured Articles

Livestock data management platform Breedr raises £12mn

Breedr helps farmers improve their livestock productivity & sustainability. Investbridge Capital led a £12mn funding round to build better farm trading

Coca-Cola, Diginex & Reckitt tech to support supply chains

Respect for human rights is critical to good business, says Coca-Cola’s Paul Lalli, as the company joins diginexLUMEN to catch supply chain forced labour

Luxury food manufacturer Venchi on sustainable packaging

Cècile Osti, of luxury chocolate manufacturer Venchi, on Easter 2022, Sorrento lemons, sustainable packaging, natural ingredients & the pleasure of food

How has the pandemic affected sales at General Mills?

Food

Morrisons partners with Nestle in sustainability scheme

Retail

PepsiCo Launches pep+ a Strategic End-to-End Transformation

Drink