Snyder’s-Lance has completed the acquisition of baked snacks firm Baptista’s Bakery.
The US said the deal, first announced last month, “supports efforts to sharpen its focus on branded products in growth categories such as “better for you” and other emerging products driven by consumer preferences and insights”.
Baptista’s manufactures Snyder’s-Lance’s Snack Factory Pretzel Crisps brand. Snyder’s-Lance said buying the business would help its innovation plans.
As part of its strategy to focus on branded products, Snyder’s-Lance sold its private-label business in a US$430m deal.
BB&T Capital Markets analyst Brett Hundley suggested at the time the move could also boost Synder’s-Lance margins. “We believe that a sale of its private-label business, combined with an improved business mix and further M&A, will help to improve operating margins to above 10% while unlocking equity value.”