VMG Partners Completes Sale of Snack Factory to Snyder's-Lance for $340M
VMG Partners today announced that it has completed the sale of Snack Factory, parent company of market-leading Pretzel Crisps®, to Snyder's-Lance, Inc. (NASDAQ: LNCE) for $340 million.
Pretzel Crisps®, the world's first flat pretzel-shaped cracker, was launched by snack food pioneers Sara and Warren Wilson in 2004. VMG invested in the company in 2009 and, working in close partnership with the Wilsons and management, helped to build one of the fastest growing brands in the premium, natural snack business. Snack Factory products are distributed nationally primarily in the deli-bakery section of grocery retailers and in mass merchandisers and club stores today.
Kara Cissell-Roell, Managing Director of VMG Partners, said, "The Wilsons are amazing entrepreneurs and working with them and the talented management team led by the CEO Tom O'Rourke to further grow the company they founded was extremely rewarding. The Pretzel Crisps® brand revolutionized the premium cracker and snack category and in doing so, developed a truly passionate consumer following. Pretzel Crisps®