Snyder’s-Lance has stepped up its moves into what the US group perceives are healthier snacks – with the creation of a “better-for-you” division and fresh investment in organic firm Late July Snacks.
Carl Lee Jr, the president and CEO of Snyder’s-Lance, claimed the company had been “ahead of our competitors in providing healthy snacks” but said the new division “intensifies that focus and enables us to become the trusted leader in healthy snacking and sustainable food”.
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Central to the new unit is Late July Snacks, which Snyder’s-Lance said produces the “number one organic tortilla chip” in the US.
Snyder’s-Lance announced it had “increased” its investment in Late July, without providing further details. It did disclose Nicole Bernard Dawes, the founder and CEO of Late July, will keep her “ownership position” in the company.
Dawes, who started Late July in 2003, said the use of Synder’s-Lance’s distribution network would be a boost to “sustainable food” in the US.
“I wasn’t looking to sell out, so the opportunity to create a better for you platform with a focus on organic and non-GMO foods from the ground up was just what I was looking for,” Dawes said. “What excites me most about our relationship with this new division is the ability to continue being an alternative to the big food conglomerates and the guarantee that Late July will always be synonymous with leadership and advocacy for organic and non-GMO foods. This partnership also makes Late July the only organic, non-GMO food brand with access to its own national direct store distribution (DSD) system which is a game-changer for sustainable food.”
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By GlobalDataThe deal and the establishment of the new division follows the acquisition of baked snacks business Baptista’s Bakery this summer.
