Snyder’s-Lance, Inc.’s focus is snacks, which it manufactures, distributes, markets, and sells in the U.S. A pure-play enterprise (its resources invested in one line of business), Snyder’s-Lance is a premium snack food business centered on mid-sized categories. The Company, founded in 1912, is based in Charlotte, North Carolina.
In 2010, Snyder’s of Hanover, Inc. and Lance, Inc. merged creating Snyder’s-Lance, Inc. Snyder’s-Lance has in recent years acquired Metcalfe’s skinny Limited, Diamond Foods, Late July Organics, Baptista’s Bakery, and Snack Factory.
Snyder’s-Lance products include pretzels, sandwich crackers, kettle cooked chips, and pretzel crackers. Its products also include cookies, potato chips, tortilla chips, nuts, restaurant style crackers, as well as other salty snacks.
Its brands include Snyder’s of Hanover; Lance; Kettle Brand; Cape Cod; Snack Factory Pretzel Crisps; Pop-Secret; Emerald, Diamond of California; Late July Snacks. Kettle Chips; Krunchers! Kettle Cooked Potato Chips; Tom’s; Archway; Jays; Stella D’oro; eatsmart Snacks; and O-KE-DOKE. Furthermore, Snyder’s-Lance buys and sells cake products and meat snacks under its brands. Additionally, the Company sells partner brand products.
In 2016, Snyder’s-Lance acquired Diamond Foods. This included the aforementioned Kettle Brand, Kettle Chips, Pop Secret, Emerald, and Diamond of California. For Q2 2016, the Company’s net revenues increased 41% due to the contribution of Diamond Foods. Excluding Diamond, its net revenue increased by close to 1% on core brands. The strongest growth brands that Snyder’s-Lance had in Q2 2016 were Lance, Cape Cod, and Snack Factory.
Snyder’s-Lance has 14 manufacturing centers and more than 3,100 IBO (Independent Business Owner)) sales routes. Its annualized total revenues are $2.5 Billion. One of the Company’s strategic priorities is to drive 3% – 5% branded net revenue growth.
It is working to accomplish this through increased household penetration (its Consumers focus); better snacks – improved ingredients, being a taste leader, and focusing on consistent high quality (its Ingredients focus); and growing its distribution, through concentrating on emerging markets among other things (its Retailers focus).
Regarding its categories, Snyder’s of Hanover is number 1 in Pretzels. Lance is number 1 in Sandwich Crackers; Diamond is number 1 in Culinary Nuts; and Cape Cod and Kettle Brand are number 1 in Kettle Chips.
Snack Factory Pretzel Crisps are number 2 in Deli; Pop Secret is number 2 in Microwave Popcorn; Late July Snacks is number 3 in Organic/Natural Tortilla Chips; and Emerald is number 4 in Snack Nuts.
Snyder’s-Lance’s national DSD (Direct Store Delivery) distribution network includes grocery stores, convenience stores, mass merchandise stores, as well as mom & pop stores. Its Direct Sales channels include ‘center of store’, deli, club, and natural and dollar stores.
Snyder’s-Lance said that its Diamond portfolio of brands extends its consumer reach, its channel penetration, as well as its growth potential.
On September 1, 2016, Snyder’s-Lance announced that its Kettle Foods subsidiary completed the acquisition of Metcalfe’s skinny Limited (founded in 2009), by acquiring the remaining 74% interest in the leading United Kingdom premium popcorn brand. In January of this year, Kettle Foods had initially acquired a 26% stake in Metcalfe’s skinny.
Mr. Carl E. Lee, Jr., Snyder’s-Lance’s President and CEO, said, “We are excited to add the Metcalfe’s skinny brands to our portfolio and expand our presence in the UK marketplace. We see tremendous growth in the UK with additional opportunities for further international expansion for our innovative collection of snacking brands.”