Snyder's-Lance Acquires Stateline Service Corporation
Snyder's-Lance (Nasdaq: LNCE), has acquired substantially all assets of Stateline Service Corporation ("Stateline"), a snack food distributor in Massachusetts. This acquisition is part of the Company's plans to continue growing and strengthening its national distribution network.
"We're excited to expand our direct store delivery ("DSD") distribution network through this acquisition," said Ed Good, President of S-L Distribution Company, a subsidiary of Snyder's-Lance, Inc. "Through closer working relationships with key retailers, we expect to build on the successful business that Stateline has developed in this important geographic area. We see an opportunity to expand our DSD network, enhance service to retail customers and develop long term opportunities for our independent business owners ("IBO") in the region."
For a number of years, Snyder's-Lance, Inc. has built its DSD network through a blend of selective acquisitions and organic growth. Stateline operates a DSD distribution system and distributes Snyder's-Lance Inc.'s branded products as well as several additional partner-brand product lines. The Stateline routes will be integrated with the Company's extensive DSD network, providing a number of benefits including the ability to better service retail partners with the company's branded products while leveraging supply chain and other efficiencies. The purchase price was not disclosed.
About Snyder's-Lance, Inc. Snyder's-Lance, Inc., headquartered in Charlotte, NC, manufactures and markets snack foods throughout the United States and internationally. The Company's products include pretzels, sandwich crackers, pretzel crackers, potato chips, cookies, tortilla chips, restaurant style crackers, nuts and other snacks. Snyder's-Lance has manufacturing facilities in North Carolina, Pennsylvania, Iowa, Indiana, Georgia, Arizona, Massachusetts, Florida, Ohio and Ontario, Canada. Products are sold under the Snyder's of Hanover®, Lance®, Cape Cod®, Pretzel Crisps®, Krunchers!®, Tom's®, Archway®, Jays®, Stella D'oro®, Eatsmart®, O-Ke-Doke®, and Padrinos® brand names along with a number of private label and third party brands. Products are distributed nationally through grocery and mass merchandisers, convenience stores, club stores, food service outlets and other channels. LNCE-G
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